Vanquis Banking Group plc has announced that Ian McLaughlin will step down as CEO for personal reasons by no later than the end of the year.
John Natalizia, currently deputy CEO and CEO of its subsidiary Snoop, will be appointed as interim CEO when Ian steps down, subject to regulatory approval.
Over the next few months, Natalizia will attend board meetings and McLaughlin will work closely with him to ensure an orderly transition.
In the meantime, the company’s board will initiate an internal and external executive search process to identify a successor to lead the group.
Natalizia joined Vanquis following the acquisition of FinTech Snoop in July 2023 and has been a member of the group executive committee since then. He was appointed deputy CEO in April 2026 and currently has executive responsibility for the group’s product offerings, and technology and change delivery, which incorporates the Gateway transformation programme.
He has over 25 years of banking experience, including a range of commercial, digital, operational and transformation roles at Virgin Money and MBNA, before establishing Snoop as a co-founder.
During his time at Virgin Money and MBNA, John held senior roles in their respective credit card businesses, including responsibility for the build, migration and successful launch of Virgin Money’s credit card business and the strategic transformation of MBNA’s business.
Sir Peter Estlin, group chairman, commented: “On behalf of the board, I would like to thank Ian for his significant contribution to the turnaround of Vanquis, and the establishment of the strategy and business priorities for the group’s future success.
“Under Ian’s leadership the group has undertaken a significant transformation and returned to profitability with a much clearer pathway to delivering attractive and sustainable returns for shareholders.
“Although there is still work to do, the group is well placed to build on the progress Ian has led. The board has confidence in the strategy and the management team under the leadership of John and Dave Watts, the group’s chief financial officer.”
McLaughlin commented: “I would like to thank the board and all my colleagues for their hard work and support to deliver the operational and financial turnaround of the business. Significant progress has been made.
“The group is now much better positioned to deliver on the trajectory we have set out for shareholders, and to continue with our purpose serving the customers who need us most. It has been a privilege to lead Vanquis through this phase, and I wish everyone involved continued success and happiness.”