David is currently a non-executive director at Shawbrook Bank, Small World Financial and Lowell Group.

He previously served as a senior adviser at the FCA, and has also held roles at PayPal and Lloyds TSB.

He replaces Nick Ogden, who has retired from his executive chairman role after founding ClearBank and guiding it to the launch of its payments and agency banking services.

Nick will remain on the board as founder-director and continue to help the bank expand its vision.

“ClearBank’s cloud-based clearing and banking services will change the UK financial landscape by offering cost-effective, resilient payment and agency banking services to its clients, and I am excited to be joining ClearBank at this pivotal time in its development,” said David.

“I would also like to thank Nick on behalf of the ClearBank team for his outstanding leadership, vision, enthusiasm and commitment since the bank’s inception and subsequent growth into the business it has become today.

“I look forward to working with Nick and the whole of the ClearBank team.”

Charles McManus, group chief executive officer at ClearBank, added: “I am delighted that David has joined to help lead ClearBank through the next phase of its development.

“David brings to our team many years of global experience across banking and payments industries, as well as a wealth of board depth and capability, and we welcome his perspective and contribution.

“I also wish to recognise the vision and leadership that Nick has brought to ClearBank, without which the bank would not have been established, and look forward to continuing to work closely with him as a board colleague and continued advocate of our business.”