M&S Bank confirms new CEO

Prior to this, Paul was chief control officer for HSBC’s Retail Banking and Wealth Management business. He also previously held the position of CFO for Marks & Spencer Financial Services.

Denise Holt, chair of M&S Bank, commented: "Just last year we marked a key step in our transition from a financial services provider to a full service bank with the launch of M&S Bank Mortgages.

“In addition to evolving our products and services, this year we have also made a major step in our support for our community, becoming naming partner of the M&S Bank Arena, part of the ACC Liverpool and Exhibition Centre Liverpool, which has generated £1.6billion in economic benefit for the Liverpool city region.

“This is a really exciting time for M&S Bank, our customers, colleagues and community, and Paul is the ideal leader to take the business forward and ensure we continue to bring the trusted M&S brand values to banking.”

Paul added: “I’ve shopped at M&S my whole life, from the suit I purchased for my first job interview, to the Christmas meal we prepare every year and, having started my career in financial services with M&S, I’m a huge advocate of the brand. I truly understand the high standards our customers have come to know and expect from M&S and M&S Bank.”