Andrew Brook has stepped down as a non-executive director of the specialist bank after PCFG appointed Christine Higgins.

Christine will join PCFG with immediate effect and is as a qualified accountant and experienced director after holding a variety of roles on boards and is currently a non-executive director of the Buckinghamshire Building Society.

"I am delighted that Christine is joining our board,” said Tim Franklin, chairman of PCFG.

“Her background in financial services and experience in audit/risk will be of great value as we exit mobilisation and become a fully fledged bank.

“We very much look forward to working with Christine and gaining from her experience."

Christine added: "I am very pleased to be joining PCFG as a non-executive director at this exciting time, with the company becoming a bank and expanding its business."

Tim paid tribute to Andrew, who has been a non-executive director since December 2015.

Andrew – who is also chairman of Bermuda Commercial Bank's audit committee – has provided guidance on governance, audit and risk as the group prepares to become a bank.

"Andrew has been an invaluable link between PCFG and our major shareholder Bermuda Commercial Bank,” added Tim.

“He has been an excellent board member and has selflessly agreed to step aside to enable us to recruit a fully independent non-executive director.”