UK challenger bank Aldermore has hired former Co-Operative Bank risk manager Peter Anderson Shaw as a non-executive director, according to UK regulatory authority listings.
Shaw departed the Co-Operative Bank in February of 2013 after 14 months service, and was appointed to the Aldermore non-executive board on the 4 September 2014, according to the UK’s Prudential Regulation Authority’s (PRA) financial services register.
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A source inside Aldermore, who wished to remain anonymous as the announcement is not yet public, confirmed Shaw’s arrival as non-executive director to join the bank’s compliance and oversight board.
A spokesperson for Aldermore declined to comment.
Before his year at the Co-Operative Bank, Shaw spent a decade at the Royal Bank of Scotland as chief risk officer until 2010, according to his LinkedIn profile. Shaw has held another non-executive director position at the UK arm of the Bank of Ireland for the past year and a half, which is still active.
Last week Leasing Life reported that Aldermore was preparing to float on the stock exchange.
Aldermore Asset Finance, a division within the bank, more than doubled its net profit in 2013 to £12.7m, up from £6.2m the year before. It also reported a 74.3% increase in new business volume to £609.8m.
Aldermore is majority owned by private equity firm AnaCap, whose investor and partner at the private equity firm, Peter Bramwell Cartwright, has a non-executive directorship at the bank, according to PRA listings.
Aldermore’s other current shareholders include Morgan Stanley Alternative Investment Partners.
