Mark takes over from Philip Acton – the bank's interim CEO – with the pair having worked together to ensure an orderly transition.

Previously CEO at Harrods Bank, Mark was involved in its recent sale to Tandem.

Prior to this, Mark spent seven years at Aldermore, where he was a founding director and held roles including deputy chief executive and group commercial director.

Chris Jolly, chairman at CivilisedBank, said it was thrilled to be welcoming Mark to the team.

“He has tremendous experience of working within the challenger bank sector and as a seasoned professional, his expertise will be invaluable as we continue through our build phase to launch.

"Philip Acton has been instrumental during this part of our development and his support has ensured a smooth transition as Mark takes the helm.

“We thank Philip for all his support and wish him all the best for the future."

Mark's appointment comes after CivilisedBank announced that it would be reapplying for a banking licence to give it more time to develop its technology platform.

“I'm excited to be joining CivilisedBank and particularly at such a key stage in the bank's development,” said Mark.

“CivilisedBank's proposition offers a refreshing alternative to SMEs looking for a new approach to business banking that's not being offered by the incumbents or online-only banks.

“The current build phase is crucial in ensuring that we provide an optimal customer offering, and I'm looking forward to working with the team as we look to put this in place.”

Philip concluded: "I am delighted to have played a role in getting CivilisedBank off the ground and to have supported this phase of the bank's development.

“I'm equally delighted that I'm passing the torch to such an experienced and worthy successor as Mark.

“I wish CivilisedBank great success in the future."