United Trust Bank has appointed Michael Rennie as chief operating officer (COO) to succeed current COO Rob Sherr, who is retiring next year.

Rennie (pictured) has spent over 20 years in financial services, fulfilling several executive roles including chief operating officer, chief digital officer and chief information officer at Cynergy Bank where he was responsible for transformation, IT, operations, deposits and financial crime.

He also spent six years with KPMG as a management consultant and was chief Information officer at Genworth Financial. Most recently he ran a digital/technology consultancy business.

Harley Kagan, chief executive officer of United Trust Bank, said: “Michael’s considerable experience in executive roles combined with his deep knowledge of technology and the digital landscape makes him an ideal candidate to become UTB’s next chief Operational officer. As a dynamic and forward-thinking specialist bank, we are continuously improving and adapting to a constantly evolving environment, and Michael’s skills and experience will be particularly valuable as UTB begins the next leg of its exciting journey.

“Although we still have Rob Sherr on board for an extended period, I would like to take this opportunity to thank him on behalf of UTB and the board of directors for his great contribution to the continued success of the Bank.

Rennie added: “I am really excited to be joining UTB at such a dynamic time for the industry, where technology continues to transform how we operate, and customers demand higher levels of service and personalisation. I was attracted to UTB’s clear vision, great culture and top talent and I’m looking forward to working with the team to build on these strong foundations and drive innovative solutions that make banking simpler and more accessible.”