The CEO of listed FinTech Secure Trust Bank has announced his retirement after four years in the role and almost six years of serving as a board member.
David McCreadie will be replaced by CEO designate Ian Corfield on 23rd June 2025 after overseeing the growth of the current lending businesses from £2.2bn to £3.7bn.
He will also remain available to support the Solihull-based company until June 2026.
McCreadie also helped to streamline the organisation and navigated challenges including the global pandemic and geopolitical uncertainty throughout his tenure.
His replacement, Corfield, is set to officially take up the CEO role on 16th August 2025 and brings a wealth of experience to the firm, having worked in the financial services sector for over two decades.
He was previously CCO of NewDay Ltd from 2014 to 2023, where he helped to build the company into a leading financial services provider.
He has also served as CEO of Aussie Home Loans and business & retail banking at Bankwest, both based in Australia, after holding a number of senior roles at HBOS Plc.
Most recently, he has worked as an adviser to HM Treasury and will step down from his role as a specialist partner at London-based regulatory and competition advisory firm Flint Global.
“On behalf of the Board, our colleagues and our shareholders I would like to thank David for his commitment and contribution to the Group throughout his tenure,’ said Jim Brown, chair of Secure Trust Bank PLC.
“Since his appointment as CEO, David has driven strong progress against our lending ambition of £4bn. He has led the transformation of the group into a simplified and more focused business, restructuring our operational platform to ensure the Group is well positioned for future growth and improved returns.
“We are delighted to welcome Ian Corfield to the board and as CEO. Ian brings significant strategic, financial services and consumer finance expertise with a focus on driving innovation in customer experience.
“Throughout his career he has demonstrated exceptional leadership skills and developed a strong track record of delivering profitable growth. We look forward to working with Ian to accelerate our growth plans and deliver value for our customers, colleagues and shareholders.”
The company, which is listed on the London Stock Exchange, has seen its share price rise since the news broke, increasing from 726p at 8am to 750p at 11am.
This is more than double its value at the start of 2025, when it stood at 355p, but less than its price of 828p this time 12 months ago. It currently has a market cap of £143m.
Outgoing CEO McCreadie added: “It has been a privilege to lead Secure Trust Bank and to work with so many talented people. I am proud of the transformation we have delivered together to define a clearer purpose and direction for the group, and I would like to thank current and former colleagues for their support, hard work and commitment.
“We expect to achieve our current strategic ambitions in the near term and the foundations are in place to support the delivery of enhanced returns.
“As a result, it is the right time to transition the CEO role to ensure consistent leadership during the next phase of the group’s strategic development. I look forward to working with Ian, my colleagues and the Board to ensure an effective transition.”
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