Carl D’Ammassa, Aldermore’s group managing director for business finance, is to leave the bank after five and a half years.

He will become the new chief executive officer of White Oak UK later this year.

D’Ammassa joined Aldermore in October 2013 having previously held the position of managing director of Hitachi Capital Business Finance. He joined the executive team in 2015 to lead the bank’s business finance operation.

He was part of the senior management team which successfully steered Aldermore through its acquisition by First Rand Group in 2018.

Phillip Monks, chief executive of Aldermore, said: “I would like to thank Carl for his great contribution to Aldermore, and in helping to develop our successful business finance business. We have been on an incredible journey over the past few years, and Carl has played a consistently strong and influential role in our successful growth and evolution as a bank that really understands, and consistently delivers, what our customers need. I wish Carl every success for the future.”

D’Ammassa added: “I have had an amazing time at Aldermore and would like to thank Phillip and all of the team for their support during the past six years. I am proud of everything we’ve achieved together to support the dreams and ambitions of many great British businesses.

“I leave a fantastic team in business finance, who I am confident will continue to build on our shared successes and I look forward to working with the Aldermore team in a different capacity moving forward.”