Secure Trust Bank has appointed former Kensington Mortgages chief executive Ian Henderson as it eyes a launch into the mortgage market.
Henderson has been given the dual role of head of strategic business development and chief executive of personal lending and mortgages.
While Henderson’s job title suggests Secure Trust has decided to enter the mortgage market, it insists it is yet to make a final decision.
Secure Trust group chief executive Paul Lynam says: “I have known Ian for a number of years and am delighted he has agreed to join us. Ian has huge relevant experience in consumer finance and mortgage markets. His appointment will further strengthen our executive team and is another tangible demonstration of our commitment to ensuring that our strong ongoing growth is well controlled and sustainable.”
Henderson says: “I have been observing Secure Trust Bank for a number of years – it’s a tremendous business. I am delighted to be joining at an important point in its development and look forward to working with Paul and his team in the next phase of growth.”
Henderson was most recently Kensington’s chief executive, a role he took over in September 2014. Prior to this he spent a year and a half as Shawbrook Bank’s chief executive and, before this, he held several senior roles within Barclays and royal Bank of Scotland.
In its interim results, published in August, Solihull-based Secure Trust said it was investigating a launch into the mortgage market. At the time it said: “We remain open to the possibility of competing in the UK mortgage market and have hired a team to undertake a detailed study to establish if we can build a sustainably viable proposition in this market alongside some of the other challenger banks.”
Presently, Secure Trust Bank offers a range of personal, motor and business loans as well as current accounts and real estate development products.
The bank, which is listed on the Alternative Investment Market and is a subsidiary of the Arbuthnot Banking Group, made a £16m pre-tax profit in the first six months of the year, up 40 per cent year-on-year. Its income in H1 reached £62.2m, up from £43.8m in H1 2014.