Cooper, who was previously CEO of C.Hoare & Co, has more than three decades of international banking experience. As well as holding the role of CEO of the personal banking business at Barclays he was also CEO of Barclaycard Business Solutions.

Cooper sits on several advisory boards, including the Cabinet Office-sponsored Social Mobility Commission on which he is joint chair.

He is also chairman of Experian UK, a non-executive director at Robert Walters PLC as well as a Harvard Business School graduate.

Monks, who announced his retirement from Aldermore last year, founded the bank in 2009

Cooper, speaking last year when it was announced he was to replace Monks, said: “Under the leadership of Phillip Monks, Aldermore has gone from a vision to a substantial business in just a short period of time.

“The Board and shareholders are committed to achieving a similar growth trajectory over the next few years, whilst maintaining the business purpose and its strong values. I am delighted to be leading this exciting new chapter in the evolution of Aldermore.”