Jones is well-known in the industry having spent 35 years at Lloyds Banking Group, most recently as managing director for intermediaries and specialist brands. He retired in 2020.

Jones has been an independent non-executive director at MAB for more than three years and succeeds Katherine Innes Ker, who stepped down as chair in May after 10 years.

Jones says: “I’m delighted to have been appointed as Non-Executive Chairman at a time of continued growth and success for the business. I look forward to working with the board to help MAB achieve its ambitious growth plans, and ensuring more customers can achieve their homeownership goals.”

MAB chief executive Peter Brodnicki says: “I’d like to congratulate Mike on his recent appointment. His extensive experience and deep understanding of the financial services sector remain invaluable to us. This is an incredibly exciting time for MAB, and with such a strong board led by Mike, we can all look forward with a huge level of confidence and optimism.”