Challenger bank Aldermore hires two new non-executives

Elizabeth Fournier
ALDERMORE, the challenger bank founded by Phillip Monks in 2009, said yesterday it has hired two new non-executive directors to its board, including a former PwC partner.

The bank named John Hitchins – who spent 38 years at the big four accountancy firm before retiring this summer – and Cathy Turner, who has worked at both Lloyds and Barclays banks.

Hitchins joined PwC after graduating from Oxford University in 1976, and has worked for clients including Euroclear, Lloyds Banking Group, the Bank of England, Bank of Ireland, Barclays, JP Morgan Chase and Nomura during his tenure.

Turner also brings big four experience with her, having worked in consultancy with Deloitte & Touche and Ernst & Young, as well as being director of investor relations at Barclays.

“I am delighted that Aldermore has been able to attract Non- Executive Directors of John and Cathy’s calibre and experience, and I’m very much looking forward to working with them both,” said Glyn Jones, chairman of Aldermore.

The bank, which is backed by funds advised by private equity firm AnaCap Financial Partners, reported profits of £22.4m in 2013, smashing its previous earnings of £1.5m in 2012. Lending volumes soared by 64 per cent in the year to £3.4bn.

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