Aldermore Group has appointed Pat Butler as its new chairman.
Butler will be a non-executive director with effect from 1 January, and will take on the role as chairman following once the company’s acquisition by South-African bank FirstRand is complete.
This takeover was approved by Aldermore shareholders on 8 December.
Until this acquisition is complete Danuta Gray will continue her role as interim chairman, at which point she will resume her role as senior independent director of the board.
Butler has worked for a number of financial services companies in both executive and non-executive roles.
He was previously a partner at The Resolution Group and also chaired the investment committee of British Business Bank Investment. He currently serves as an independent non-exec director of the Bank of Ireland.
As part of his role as chairman Butler will also chair the corporate governance and nomination committee, and be appointed as a member of the renumeration committee.
Aldermore interim chairman Danuta Gray says: “I am delighted Pat has decided to join Aldermore. He brings a proven track record in financial services. I look forward to working with him to ensure a smooth transition before his appointment takes effect.”
Butler adds: “I am excited to be joining Aldermore as it moves towards the next phase of its journey. I would like to congratulate Danuta in her exemplary leadership over the past year and her management of the FirstRand offer which greatly enhances the strategic opportunity of the company.”