LONDON (Reuters) - The Chief Executive of British challenger lender Shawbrook, Steve Pateman, will stand down in the coming months, the bank’s board said in a statement on Wednesday.
Pateman, who joined the bank in 2016, said it had been a privilege to lead Shawbrook through challenging times and lay the foundations for future growth.
The bank, which was briefly listed between April 2015 and July 2017, was taken over by private equity firms BC Partners and Pollen Street Partners last year.
“Given the change in ownership... Steve and the board felt it important that the bank’s leadership shared the time horizons of the investment case and will now work together to secure a successor who can lead the bank through that phase,” said Chairman John Callender.
Reporting by Emma Rumney, editing by Sinead Cruise