Recently floated bank Shawbrook Group has appointed Steve Pateman, head of UK banking at Santander UK, as its new chief executive officer.
The bank's previous chief executive, Richard Pyman, had taken a temporary leave of absence in May due to illness. Finance chief Tom Wood, a Glasgow University graduate, has been filling in as interim chief executive since then and will revert to his old role when Mr Pateman arrives.
Shawbrook has now confirmed that Mr Pyman will step down from his role and leave the group with immediate effect.
Mr Pateman runs Santander UK's corporate, commercial, business and retail banking operations and wealth management divisions.
Prior to that he was with Royal Bank of Scotland, latterly as its head of business banking.
Mr Pateman is expected to join on January 1 subject to approval from regulators.
He said: "I know the Shawbrook team well. There is much ambition and the group's expertise and people are highly regarded throughout the UK banking sector.
"They have made tremendous progress leading up to and since its listing in April this year and I am really looking forward to working with the senior management team, the board of directors, and all the employees of Shawbrook to build on the group's strong momentum."
Shawbrook,
Former RBS chief Sir George Mathewson was involved in Shawbrook from its founding in 2011 through to its flotation. He stepped down from his chairman post as he did not want to be involved in a board room position of a listed business but remains a shareholder.
He was replaced Iain Cornish in July.
On Mr Pateman's appointment Mr Cornish said: "[Steve] 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."
Mr Cornish also paid tribute to Mr Pyman and Mr Wood.
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