The co-founder of ClearBank has stepped down as CEO after nine years at the helm of the London fintech.
63-year-old Charles McManus has stepped away from the day-to-day running of the organisation but will continue to support the business on the board as a non-executive director, the company said. He will also remain as co-chair of the Innovate Finance Unicorn Council.
He was previously a manager at KPMG before becoming COO of Treasury and Cap Markets at Hambros Bank, now a part of SocGen. He controls 79,000 shares in the company, according to a recent corporate filing.
McManus said: “It’s been a huge privilege to lead ClearBank during the last nine years.
“My commitment to and belief in ClearBank remain unwavering. Given our great momentum, now is the time for me to take a step away from the business’ day-to-day operations, while continuing to represent the industry as a whole via my involvement with the Unicorn Council.”
McManus is to be replaced by Mark Fairless, who has served as ClearBank’s CFO since January 2023.
efore joining ClearBank, Fairless was most recently CFO of the M&G Heritage Business, a leading international savings and investments business. With two decades of experience in financial services, he previously held senior positions at Santander UK and Barclays Investment Bank.
Peter Herbert, Group Chair of ClearBank, said: “Mark is a proven leader with a track record spanning over two decades in financial services.
“With our European banking licence in place and plans in place to expand into additional markets, we are excited to enter a new chapter at ClearBank under Mark’s leadership.
“Mark’s deep understanding of our business, coupled with his strategic vision, makes him the ideal person to build on our foundations and guide ClearBank towards even greater success.”
ClearBank said it had yet to identify a new CFO for the company, adding it was “working on interim solutions”.
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