Kerr (pictured) will take up his appointment in November, subject to regulatory approval. He is currently serving as managing director of SME banking at the Co-Operative Bank, a position he has held since February 2019.
Prior to this, he was head of small business at CYBG for just under three years. He also previously worked at Lloyds Banking Group for 16 years in several roles, including managing director of global transaction banking and head of corporate in Scotland for Bank of Scotland.
Kerr said: “This is a fantastic opportunity to take a very well-positioned, competitive institution with unique products, strong relationships with brokers and very satisfied clients to the next level.
“I see a bank with exceptional potential, and I’m honoured to be given the chance to lead the institution and its team of dedicated employees.”
Kirsopp added: “Donald’s unique understanding of our markets and the opportunities for the future means he will hit the ground running, and have the best possible start leading a great executive and the wider team who deliver above and beyond for our customers.”
Simon Moore, chairman, Cambridge & Counties Bank, said: “Donald has worked at the very highest echelons of the UK banking sector, delivering excellent results and strong growth, and is the perfect individual to take the bank forward. We are delighted to welcome him to the senior team.
“I would also like to take this opportunity to thank Mike and to wish him well as he moves forward to the next stage of his banking career. His six years as chief executive have been an unmatched success and, on behalf of all stakeholders in the bank, I would like to thank him profoundly for his leadership and significant achievements.”