Andy Mielczarek is stepping down as CEO of digital bank Chetwood Financial, with Paul Noble announced as his replacement, subject to regulatory approval.

Co-founded by Mielczarek (pictured) in 2016, the Wrexham-based digital bank received a restricted licence in late 2017 before being granted a full UK banking licence in December 2018.

Earlier this year, the company also entered the buy-to-let mortgage market with the acquisition of the specialist lender CHL Mortgages for Intermediaries and plans to launch ModaMortgages in the near future.

Mielczarek has been Chetwood Financial’s CEO since its inception. Before this he was the deputy head of HSBC’s UK Retail Bank, having previously been Commercial Director and Head of Retail Products for HSBC Europe. Prior to that he held roles including CFO at M&S Bank, Head of Commercial Finance at MBNA, and Brokerage Operations Director at Charles Schwab.

Mielczarek will leave the company at the end of this month. He is taking some time out before deciding on his next move.

Paul Noble joins Chetwood Financial from JN Bank UK, where he was CEO of the banking outfit whose products and services include savings accounts, loans and mortgages.

Noble has over 25 years’ experience in financial services, spanning startups and large banks. Before JN Bank, Noble spent six years at Pollen Street Capital, an asset manager focussed on financial services. There he led the investment into Tandem Bank which was complemented with additional business acquisitions.

Noble previously co-founded 118 118 Money to provide an alternative for customers unable to borrow from their bank.

Commenting on his appointment Noble said: “I am delighted to join Chetwood Financial. Andy and the team have built a brilliant digital bank here, and the opportunity to now help drive the company forward was one that I simply had to grab with both hands.

“There are really exciting plans in place, and I can’t wait to play my part. The emphasis will remain on delivering exceptional products and service to all our customers, but we have ambitions to enter new markets and fast-track our growth in the future.”