Gatehouse Bank has hired Tracey Bailey as its new chief operating officer.

Industry veteran Bailey joins from Cheadle-based specialist lender Together where she was director of lending and change.

She reports to chief executive Charles Haresnape and will be based at the challenger bank’s office in Wilmslow, Cheshire, from where she will oversee its operations Wilmslow and Milton Keynes.

Bailey worked at Together for 22 years, starting as its head of regulated underwriting in 1999 before becoming head of operational transformation, responsible for simplifying processes for customers and brokers.

She started her career at Nationwide, before moving into specialist lending with HFC Bank as an assistant branch manager. Bailey then led the secured lending division at Advantage Mortgage Solutions, before joining Together.

Gatehouse Bank was founded in 2007, and its services include, savings, business banking, buy-to-let and residential mortgages, as well as running an intermediary unit.

Gatehouse Bank chief executive Charles Haresnape says: “Tracey has considerable experience in key operational leadership roles where she has driven transformation and strategy, so she will be a great asset.

“We’ve been developing new ways to enhance our products and expand our offering, so it is an ideal time for her to join us, her experience will be invaluable as we look at additional ways to grow the business.”

Gatehouse Bank chief operating officer Tracey Bailey adds: “I was drawn to Gatehouse for a number of reasons, it has a great culture and values, and it is a hugely innovative organisation, with a great five-year strategy in place and a track record of continually growing and improving its products and services, from Shariah-compliant home finance to award-winning green savings accounts.

“Having spent my recent career delivering change as well as tactical and strategic improvements in finance, the bank feels like the perfect fit, and I’m excited by the challenge and keen to get started in helping to deliver results.”