Together has appointed Richard Rowntree as its chief executive, which will see him take up his post early next year.

Industry veteran Rowntree joins from Paragon Bank, where he worked for almost five years, leaving as managing director of the mortgages division.

His appointment follows the surprise resignation announcement in February that chief executive designate Gerald Grimes would down in the spring “to pursue personal ambitions”.

The firm adds in a market statement that founder and ultimate controlling shareholder Henry Moser will become executive vice chairman, “continuing his active role in guiding the board in achieving the long-term strategy of Together”.

Rowntree has over 30 years of experience in banking, having previously held senior roles with Bank of Ireland, RBS, Santander, Lloyds TSB and Halifax.

He has also served on the UK Finance Mortgages Product and Service board for the last eight years.

Together chairman Mike McTighe says: “He [Richard] brings extensive experience in banking and will further strengthen our executive management team.

“Henry, our founder, is taking on the new role of executive vice chairman and I am confident he and Richard will form a great team to take the group forward.”

Rowntree adds: “This is a business that has a market-leading proposition, a clear focus on delivering positive outcomes for customers and is backed by an exceptional team of talented, experienced professionals.”