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Ex-Nemo CEO looking to set up new challenger bank

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The former chief executive of Nemo Personal Finance is looking to set up a new challenger bank.

Alan Jarman left Nemo last month after news broke that the Cardiff-based firm had closed its doors. Prior to its closure it was one of the largest lenders in the second charge market.

Jarman, who was also chief operating officer of parent Principality Building Society, says on his LinkedIn profile that he set up a firm called Chetwood Financial this month.

His profile adds: “Working with some talented colleagues to start up a challenger bank.”

He does not mention who else he is working with.

Jarman joined Principality in June 2014 and became chief executive of Nemo in October the same year.

Prior to Principality, Jarman spent over 20 years at HSBC.

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