ClearBank, an enabler of real-time clearing and embedded banking for financial institutions, has appointed Mark Fairless as chief financial officer, subject to regulatory approval.

In addition to leading ClearBank’s finance team, Fairless will be an executive director on ClearBank’s UK board and a member of the executive committee. He will play an important role in supporting ClearBank’s continued growth in the UK, Europe and internationally.

The appointment comes at a pivotal time for the business with ClearBank – which featured on our FinTech 50 ranking last year – reaching profitability in 2022. Off the back of this success, the business expects to roll out a range of new products and services, as well as launch into Europe later this year, with other markets to follow.

Fairless joins ClearBank from M&G, where he was most recently CFO of the M&G heritage business. With over 17 years’ experience in financial services, he has previously held senior positions at Santander UK and Barclays Investment Bank. 

In May 2022 he also became a finance trustee of Bore Place (home of Commonwork Trust), a non-profit organisation committed to exploring ways of living sustainably which runs education programmes for schools and disadvantaged young people.

FinTech 50 – UK’s most innovative financial technology creators for 2022

“I believe strongly in the potential of ClearBank to drive innovation within financial services, and of the significant opportunity that lies ahead. 2023 is set to be a hugely important period for the business,” said Fairless. “I’ve joined at the perfect time and cannot wait to help ClearBank achieve its sizable ambitions.” 

Charles McManus, CEO at ClearBank, added: “Mark joins us at a truly exciting time for ClearBank, as we build on the achievements of 2022 and make progress on our growth ambitions for 2023. 

“Mark will bring a wealth of global knowledge, expertise, and experience to the ClearBank team that will be critical to our future success.”

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