UK-based financial services provider Aldermore Group has announced the appointment of Louise Britnell as its new chief financial officer (CFO).

Starting this month, Britnell will take over from Ralph Coates, who has held the CFO position since May 2022.

Most recently, Britnell was CFO at the Co-operative Bank, where she managed the finance, treasury, legal, and secretariat functions.

Aldermore said her tenure at the Co-operative Bank was marked by achievements, including playing a key role in the bank’s growth and its successful acquisition by Coventry Building Society earlier in the year.

Aldermore CEO Steven Cooper said: “We are thrilled to welcome Louise to the business. She brings deep financial services expertise and is exceptionally well placed to support our ambitions as we enter the next phase of our journey.”

Before her time at the Co-operative Bank, Britnell gained experience at one of the UK’s largest pension schemes by assets.

Her career began at Deloitte, where she worked with a diverse range of clients in banking, insurance, and non-standard lending sectors.

Commenting on her appointment, Britnell said: “I am excited to be joining Aldermore at such a pivotal time in its growth. I look forward to working with Steven and the wider leadership team to build on the bank’s strong momentum and to continue supporting underserved areas of the market.”

Coates said: “It has been a privilege to serve as CFO at Aldermore. I am incredibly proud of what we have achieved together, and I wish Steven, Louise and the whole team every success as the bank continues to grow and evolve.”

Last month, Aldermore received accreditation as a lender under the British Business Bank’s Growth Guarantee Scheme (GGS) for its invoice finance and term loan options.

The GGS is the successor to the Recovery Loan Scheme (RLS), under which Aldermore was previously accredited.

It provides Aldermore and other accredited lenders with a government-backed assurance, while borrowers remain fully responsible for repaying the debt.

This initiative is intended to facilitate financing access for small and medium businesses in the UK as they seek opportunities to invest and expand.

Additionally, it aims to enhance the borrowing terms offered and is accessible to both current clients of Aldermore invoice finance and potential new clients.