Aldermore Group has appointed Steven Cooper as chief executive, which will be effective from May 2021.

The appointment follows Phillip Monks’ decision to retire from Aldermore in 2021, after founding the bank in 2009.

Cooper is currently chief executive of C.Hoare & Co., and has over three decades worth of experience in international banking.

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He has also spent time at Barclays where he was chief executive of the Personal Banking Business across the UK and Europe, and chief executive of Barclaycard Business Solutions.

Pat Butler, group chairman of Aldermore, said: “I am delighted that Cooper has decided to join us at Aldermore. His pedigree speaks for itself and our board is confident that he will build upon Monks’ legacy and grow our business successfully, while embracing and strengthening our culture and values.

With Cooper’s leadership we will continue to champion those values, to pursue our purpose of backing people to fulfil life’s hopes and dreams, and to support our customers, colleagues and communities in these difficult times.”

Cooper, added: “Under the leadership of Phillip Monks, Aldermore has gone from a vision to a substantial business in just a short period of time.

“The board and shareholders are committed to achieving a similar growth trajectory over the next few years, whilst maintaining the business purpose and its strong values. I am delighted to be leading this exciting new chapter in the evolution of Aldermore.”