Cambridge & Counties Bank has appointed Donald Kerr as its new chief executive officer.

Predecessor Mike Kirsopp is set to retire from the role at the end of 2020 and subject to regulatory approval, Kerr will take up his appointment in November.

Kerr joins Camridge & Counties Bank from the Co-Operative Bank where he is currently managing director of SME Banking, a position he has held since February 2019.

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As chief executive, Kerr will be responsible for leading the continued development and execution of the bank’s long-term growth strategy.

Kerr said of his appointment: “This is a fantastic opportunity to take a very well-positioned, competitive institution with unique products, strong relationships with brokers and very satisfied clients to the next level.

“I see a bank with exceptional potential, and I’m honoured to be given the chance to lead the institution and its team of dedicated employees.”

Kirsopp, current chief executive at Cambridge & Counties Bank, added: “Donald’s unique understanding of our markets and the opportunities for the future means he will hit the ground running, and have the best possible start leading a great executive and the wider team who deliver above and beyond for our customers.”

Simon Moore, chairman at Cambridge & Counties Bank, said: “Donald has worked at the very highest echelons of the UK banking sector, delivering excellent results and strong growth, and is the perfect individual to take the bank forward. We are delighted to welcome him to the senior team.

“I would also like to take this opportunity to thank Mike and to wish him well as he moves forward to the next stage of his banking career.

“His six years as chief executive have been an unmatched success and, on behalf of all stakeholders in the bank, I would like to thank him profoundly for his leadership and significant achievements.”