Andy Mielczarek, co-founder of Wrexham’s Chetwood Financial, has announced his resignation as chief executive officer.
He will be succeeded by Paul Noble, pending regulatory approval.
Chetwood Financial’s Journey
Chetwood Financial was established in 2016 and secured a full UK banking licence in December 2018. Since its inception, the bank has attracted over £3.5 billion in deposits through its SmartSave savings proposition. In addition, the bank recently ventured into the buy-to-let mortgage market with the acquisition of CHL Mortgages for Intermediaries.
The bank plans to launch ModaMortgages soon, further expanding its product offerings. The rapid growth and diversification of Chetwood Financial underline its ambition and capability in the competitive banking sector.
Leadership Transition
Andy Mielczarek has been the driving force behind Chetwood Financial’s successes since its foundation. Prior to his role at Chetwood, he was deputy head of HSBC’s UK retail bank and held positions such as commercial director and head of retail products for HSBC Europe.
His departure marks the end of an era for the bank. Mr Mielczarek will take some time off before deciding on his next career move.
Paul Noble, the incoming CEO, brings over 25 years of experience in financial services. He has a robust background with roles at JN Bank UK and Pollen Street Capital.
Paul Noble’s Background
Paul Noble has a rich history in financial services, having co-founded 118 118 Money to provide alternative lending solutions for customers unable to borrow from traditional banks.
He was a key player at Pollen Street Capital, leading investments into entities like Tandem Bank. His professional journey also includes a significant tenure at JN Bank UK, where he served as chief executive.
Mr Noble’s extensive experience in both startups and large financial institutions positions him well to steer Chetwood Financial through its next growth phase.
Andy Mielczarek’s Reflections
In reflecting on his tenure, Andy Mielczarek expressed pride in Chetwood Financial’s accomplishments. “Starting a new bank was never going to be easy, and I am proud to see the progress Chetwood has made,” he stated.
He credited the success to the dedicated team and the bank’s unwavering focus on creating products that benefit customers.
Mr Mielczarek believes that now is the right time to pass the leadership baton, and he has confidence in Paul Noble’s ability to lead the bank into the future.
Future Plans for Chetwood Financial
Paul Noble has expressed his enthusiasm for joining Chetwood Financial, highlighting the existing team’s accomplishments and the exciting plans ahead. “Andy and the team have built a brilliant digital bank here, and the opportunity to now help drive the company forward was one that I simply had to grab with both hands,” he commented.
Mr Noble is committed to continuing the emphasis on delivering exceptional products and services while aiming for rapid growth and market expansion.
The future strategies include entering new markets and fast-tracking growth, reflecting the dynamic and forward-thinking ethos of the bank.
Board’s Perspective
Ian Lonergan, the group chair of Chetwood Financial, acknowledged the significant contributions of Andy Mielczarek. “Firstly, we must recognise what an incredible job Andy has done in building Chetwood Financial from just an idea to being a fully-fledged digital bank,” he said.
Mr Lonergan praised Andy’s drive, determination, and vision, stating that the bank is now in an excellent position due to his leadership.
He also welcomed Paul Noble, expressing confidence in his ability to lead the bank through the next chapters of its development.
Conclusion of an Era
Andy Mielczarek’s decision to step down marks a significant transition for Chetwood Financial. His departure signifies the end of a pivotal chapter in the bank’s history, and the beginning of a new journey under Paul Noble’s leadership.
The transition in leadership at Chetwood Financial signifies a strategic shift as the bank continues to expand and innovate.
With Paul Noble at the helm, the future looks promising for Chetwood Financial as it sets ambitious goals for growth and market presence.
