ClearBank, a UK-based clearing and integrated banking platform, has named Mark Fairless as its new chief financial officer (CFO).
Fairless will also serve as an executive director on the company’s executive committee and UK board.
The hiring, according to ClearBank, comes at a “crucial period” as the firm wants to continue its expansion after attaining profitability in 2022. It adds that it intends to “bring out a variety of additional products and services, as well as expand into Europe and other areas later this year.”
Fairless joins ClearBank from M&G, where he served as CFO of the M&G Heritage Business. Additionally, he has held executive positions at Santander UK and Barclays Investment Bank, where he spent over five years at each company.
Fairless, commenting on his appointment, thinks that 2023 will be a “important moment” for the organization.
ClearBank serves more than 200 financial institutions, such as Chip, Raisin, and Recognise Bank, with 17.5 million bank accounts and £3 billion in balances.
In September of last year, the company appointed Andrew Barker as its new chief revenue officer, after a £175 million fundraising round headed by Apax Digital in March of 2017. (CRO).