Cooper joined Aldermore as CEO in 2021 and is leaving for a new opportunity outside the banking industry.
During his tenure at the firm, Cooper has “effectively executed on growth and efficiency strategies, navigated difficult sector-related challenges and positioned the bank as one of the best places to work in the UK,” Aldermore said.
Aldermore said Cooper had told the firm a few months ago of his decision to leave, and following a recruitment process, it could confirm that Raj Makanjee would take on the role of CEO, subject to regulatory approval.
Makanjee has spent 17 years at FirstRand Limited, Aldermore’s South African domiciled owner, where he helped grow the retail franchise.
Prior to that, he spent 17 years as a partner at Accenture, where he consulted on banking, insurance and capital markets in South Africa and Australia.
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Pat Butler, chair at Aldermore, said: “On behalf of Aldermore and the board, I would like to thank Steven for his enormous contribution since becoming CEO, in the midst of the pandemic. Under his leadership, the bank has matured, integrated, and grown significantly, and has a clear strategy for the years ahead.
“We are delighted to welcome Raj to the team. With his extensive experience in financial services, he is ideally positioned to help drive our ambitions forward as we embark on the next chapter of our journey.”
Makanjee added: “I’m excited to join Aldermore at a key moment in its evolution and to work with the leadership team to build on its momentum and broaden its reach.”
Cooper said: “I’ve been proud to serve as CEO at Aldermore. My thanks to colleagues for everything we’ve achieved together, and my best wishes to the executive team as they lead the bank into its next phase. Aldermore is well-placed and well-set for the future.”
Earlier this year, the firm agreed a partnership deal with Finova.
