Shawbrook appoints Santander´s Steve Pateman as new CEO

Specialist lending and savings bank Shawbrook has appointed Steve Pateman as its new chief executive officer with effect from 1 January 2016 subject to regulatory approval.

Pateman joins the company from Santander UK, where he was executive director of UK Banking, responsible for annual revenues of £5bn and 15,000 employees.

Following Richard Pyman's decision to take leave of absence on 21 May, Shawbrook confirmed that he will be stepping down as CEO and will leave the group with immediate effect.

Tom Wood, who has been running the bank during Pyman’s absence will remain interim CEO until Pateman’s arrival, after which he will continue his role as chief financial officer.

Chairman Ian Cornish said of Pateman: “He brings a tremendous breadth and depth of experience across all of our asset classes and an outstanding track record in building highly successful SME banking businesses.

“His absolute focus on delivering excellent customer service fits perfectly with the bank's specialist and relationship driven model and we are confident that Steve will help Shawbrook to achieve even greater success in the future.”

At 0910 BST, Shawbrook shares were up 0.7% at 314.20p.