Vida Bank has appointed Stuart Sinclair as its new chair, subject to regulatory approval.
He will succeed Steve Haggerty, who has held the position for nine years. Haggerty will remain on the board as a non-executive director until September 2025 to support the transition.
EXPERIENCE
Sinclair brings significant experience in banking, insurance, and consulting, having held senior leadership roles in the UK and internationally. His previous positions include CEO of Tesco Bank, CEO of GE Capital UK’s consumer businesses, and director of UK retail banking at RBS.
He currently serves as chair of International Personal Finance and Willis Ltd and has previously held board positions at LV, TSB, Lloyds Banking Group, and Schroders Personal Wealth.
His appointment comes shortly after Vida secured its banking licence, with it looking to grow its retail funding base and increase market share.
LEADERSHIP TRANSITION
Anth Mooney, CEO of Vida Bank, said Sinclair’s appointment is a major step in the bank’s growth strategy.
“Opportunities to recruit someone of Stuart’s calibre and experience are rare. His extensive experience in leading some very well recognised financial institutions, combined with his deep understanding of the market, makes him the ideal person to guide Vida Bank as we look to scale the business.
“I’d also like to take this opportunity to thank Steve Haggerty for his exceptional leadership over the past nine years. Steve’s dedication and thoughtful guidance have been instrumental in building Vida’s strong foundation and ultimately securing our approval to operate as a bank.”
Haggerty added: “It has been an incredible journey over the past nine years, and incredibly satisfying to serve as the first chair of Vida Bank. I am immensely proud of what the team has accomplished in recent years and confident that the platform we have built will go on to deliver real growth and success in the future.
“I am fully confident that Stuart is the perfect person to take Vida on the next phase of its journey and I look forward to supporting the transition and watching the business thrive in the years ahead.”
Sinclair said he was looking forward to joining the bank at a key moment in its development.
“I’m delighted to join Vida Bank at such a pivotal moment in its journey. The granting of its banking licence marks the beginning of an exciting period of growth and opportunity.
“With its strong funding base, talented team, and commitment to delivering innovative solutions in the specialist mortgage market, Vida is well-positioned to make a significant impact. At a time when a chronic lack of housing supply continues to drive up prices and strain affordability, Vida’s role is more important than ever.”
