Wyelands Bank is today announcing that Iain Hunter, its Chief Executive Officer for nearly five years, is to step down to be replaced by Chief Operating Officer and deputy CEO Stephen Rose. Mr Hunter will stay on as a senior advisor to the bank for a period of time to ensure a smooth transition.
The board of Wyelands expressed its thanks to Mr Hunter for his leadership in developing and growing the bank in its early days, as well as navigating the bank through the more challenging times it and the broader economy faces today.
Mr Hunter was the CEO of Tungsten Bank and led its sale to British industry entrepreneur Sanjeev Gupta’s GFG Alliance in 2016 and transformation into Wyelands Bank. He was behind the recruitment of Mr Rose and CFO Rachelle Frewer last December, which strengthened Wyelands’ executive team, allowing Mr Hunter to leave the bank in safe hands.
Said Mr Hunter: “It is with some sadness that I am stepping down after five years in which we have achieved a great deal. However, it has been agreed between the board and me that now is the time to hand over the reins and move to the next stage in my career. I wish Steve, Rachelle and the rest of the Wyelands team the best in the future.”
Said Mr John Crompton, Chairman of the Board: “On behalf of the board and everyone involved in Wyelands, I’d like to thank Iain for his hard work and strong leadership of the bank over the last five years. The market we are involved in has gone through a rapid change recently and we, along with other players, need to adapt to this new reality while continuing to place customers at the heart of everything that we do.”
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About Stephen Rose: Steve is a chartered accountant with 30 years’ experience working in senior finance and change roles across the banking, insurance, and asset finance sectors. Steve joined Wyelands in October 2019 and has focussed on the introduction of new systems and steering the Bank through the operational challenges from the disruption caused by the Covid-19 pandemic.
About Wyelands Bank: Wyelands Bank was established in 2016 by British industrial entrepreneur Sanjeev Gupta, as part of his vision to support industrial business growth in the UK and around the world. It is part of the GFG Alliance, an international group of businesses owned by the British Gupta family that employs around 35,000 people worldwide, is present in more than 30 countries and has a turnover of more than $20 billion. The independently managed bank is regulated by both the Prudential Regulation Authority and Financial Conduct Authority.