Pat Butler will take over as chairman of Aldermore when the FirstRand acquisition is completed.
He will join as a non-executive director in January after shareholders voted in favour of accepting FirstRand’s offer on 8 December; while once the deal goes through he will chair the Corporate Governance and Nomination Committee and be a member of the Remuneration Committee.
Butler said: “I am excited to be joining Aldermore as it moves towards the next phase of its journey and the opportunities that lie ahead.
“I would like to congratulate Danuta [Gray, interim chairman,] in her exemplary leadership over the past year and her management of the FirstRand offer which greatly enhances the strategic opportunities of the company.”
Butler is currently non-executive director of the Bank of Ireland.
He was previously at investment and restructuring firm The Resolution Group and chairman of the Investment Committee of British Business Bank Investments.
Butler also spent a number of years at management consulting firm McKinsey & Company, where he held senior roles including leading the Europe, Middle East and Africa Retail Financial Services Practice.
Danuta Gray will continue as interim chairman until Butler’s appointment, after which she will resume her role as senior independent director of the board.
She said: “I am delighted that Pat has decided to join Aldermore.
“He brings a proven track record in financial services and his appointment is a key step in our journey.
“I would like to welcome Pat to the company and I look forward to working with him to ensure a smooth transition before his appointment takes effect.”