Bradford-based Vanquis Banking Group has recruited a former chief financial officer at HSBC UK.
Dave Watts has been appointed as the listed company’s chief financial officer (CFO), subject to regulatory approval, and is set to join the board in November 2023.
Watts worked at HSBC for nearly 30 years, holding a number of key CFO roles, including CFO of HSBC UK Bank plc from 2017 to 2021. He is currently CFO for HSBC’s European business.
Prior to joining HSBC, Watts qualified as a chartered accountant with KPMG, and is a qualified treasurer.
Gareth Cronin, who has been acting as interim chief financial officer since the departure of Neeraj Kapur in August, will continue in his role as group chief risk officer for the group.
Ian McLaughlin, chief executive at Vanquis Banking Group, said: “Dave was the outstanding candidate in our CFO recruitment search process, and I look forward to working with him. His direct CFO and UK retail banking experience will be a great asset to the board, the group, and myself, as we move forward and grow the group as a leading specialist bank.
“I would like to thank Gareth Cronin for acting as interim CFO and helping me immensely since I joined the Group as CEO in July.”
Dave Watts added: “I am delighted to be joining Vanquis Banking Group as CFO. I look forward to working with Ian and the board, as we continue to grow as a specialist banking group, helping customers who find it hard to access mainstream lenders, and deliver sustainable returns to our shareholders.”
