Shawbrook hires Iain Cornish as its new chairman

Shawbrook has appointed former Yorkshire Building Society chief executive Iain Cornish as its new chairman.

He replaces current chairman Sir George Matthewson with immediate effect. In March the lender announced Matthewson would be leaving when it  revealed its plans to float the following month.

Cornish, who has been a founder member of the PRA board since formation in 2013, is an independent director of debt purchasing business Arrow Global Group as well as St James’s Place.

He also spent 19 years at Yorkshire Building Society, including eight as chief executive between 2003 and 2011.

Cornish says: “I am honoured to become Chairman of Shawbrook and to be joining the company following its successful IPO and at such an exciting stage in its development.”

Shawbrook non-executive director and senior independent director Robn Ashton says: “We are delighted that Iain is joining the board as chairman, as he brings a wealth of experience and industry knowledge. We look forward to his contribution as Shawbrook continues its journey as a public company.  

“We would also like to publicly acknowledge Sir George’s contribution to the founding and growth of Shawbrook over the past four years.”

Last month, Shawbrook, along with fellow challenger banks OneSavings Bank and Aldermore, broke into the FTSE 250.