Aldermore has announced that Damian Thompson, its director of mortgages, will become its new group managing director – retail finance, subject to regulatory approval.

This follows the decision of Sue Hayes, the current group managing director – retail finance, to leave Aldermore.

Thompson (pictured) joined Aldermore on an interim basis in 2017, until his permanent appointment in August 2018.

He has worked in financial services for the last 27 years, starting his career with HBOS and then across senior roles in Principality and the Newcastle Building Society. At the Newcastle, he was customer director and a member of the board. He has experience across retail including mortgages, savings, credit cards and investments.

Phillip Monks, chief executive of Aldermore, said: “I’m delighted that Damian will become our new group managing director – retail finance. His appointment shows, once again, the depth of talent within Aldermore to be able to promote from within our business.

“Damian has made a significant contribution to Aldermore since he joined us; driving forward growth in our mortgage offering, in particular in the first time buyer and buy-to-let markets. He is also a dynamic, knowledgeable and well regarded speaker on the mortgage sector.

“His appointment ensures that we will continue to deliver great products and service for both new and existing retail customers.”