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Aldermore names new chairman

Tom Belger | 5:00 Wednesday 13th December 2017

Aldermore Group PLC has announced that Pat Butler will become its new chairman.

The group also confirmed that Pat will become chairman of Aldermore Bank PLC.

The announcement comes after Aldermore shareholders last week voted in favour of accepting FirstRand’s offer for the company.

Pat’s appointment as chairman will take effect following the completion of the acquisition to ensure continuity is maintained during the takeover process.

From the 1st January 2018, Pat will join Aldermore as a non-executive director and as chairman designate for both the bank and the group.

Once he becomes chairman, Pat will chair the corporate governance and nomination committee as well as being a member of the remuneration committee.

Pat currently serves as an independent non-executive director of Bank of Ireland Group PLC and Bank of Ireland (UK) PLC and previously chaired the investment committee of British Business Bank Investments.

“I am excited to be joining Aldermore as it moves towards the next phase of its journey and the opportunities that lie ahead,” added Pat.

Aldermore confirmed that interim chairman Danuta Gray will continue her role as interim chairman until the effective date of Pat’s appointment as chairman.

Danuta will then resume her role as senior independent director of the board.

“I would like to congratulate Danuta in her exemplary leadership over the past year and her management of the FirstRand offer which greatly enhances the strategic opportunities of the company,” said Pat.

Danuta said she was delighted that Pat had 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.”

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