Paragon Banking appoints Fiona Clutterbuck as chairman

Paragon Banking Group said on Friday that it has appointed senior independent director Fiona Clutterbuck as its new chairman with effect from 10 May, succeeding Bob Dench.

Clutterbuck, who ceases to be senior independent director and a member of the audit committee, has also been appointed chairman of the nomination committee.

Dench said: "I have had a wonderful time at Paragon since joining in 2004. The management team, at all levels, has been the best I have worked with. The tremendous and constant support of the shareholders, and the unwavering focus of Nigel Terrington and his team, have seen Paragon become a robust and highly profitable business. I am particularly pleased to be handing over the chair to Fiona, who has immense capabilities, skills and energy to help take the business forward."

Chief executive Nigel Terrington said: "We carried out a thorough and independent appointment process and it was clear that Fiona was the best candidate to become Paragon's chairman. She has a strong knowledge of Paragon, having been on the board since 2012 and has a wealth of financial experience, having held senior positions at leading UK and international banks. We have been immensely lucky to have been chaired by Bob for the last 14 years but he leaves the company in excellent health and we look forward to what we know will be Fiona's significant contribution to our future."