Jones has been an independent non-executive director with MAB for over three years and will succeed Katherine Innes Ker who stepped down from the role in May this year after nearly a decade in the role.

His career spanned 35 years, which he spent at Lloyds Banking Group, starting with the bank in 1985. He worked his way up, holding several senior roles including network director, director of intermediaries and finally managing director for intermediaries and specialist brands between 2015 and 2020, when he retired.

Jones has also served as chair of the supervisory board of Lloyds Bank GmbH, Lloyds Retail Bank in Germany and The Netherlands since 2019, a role he still holds.

Peter Brodnicki, MAB’s CEO, said: “I’d like to congratulate Mike on his recent appointment. His extensive experience and deep understanding of the financial services sector remain invaluable to us. This is an incredibly exciting time for MAB, and with such a strong board led by Mike, we can all look forward with a huge level of confidence and optimism.”

Jones added: “I’m delighted to have been appointed as non-executive chairman at a time of continued growth and success for the business. I look forward to working with the board to help MAB achieve its ambitious growth plans, and ensuring more customers can achieve their homeownership goals.”

Sponsored

Shawbrook is the specialist mortgage sector’s ‘best kept secret’ – Sard

Sponsored by Shawbrook Bank

MAB has been growing its team in recent weeks, appointing Rupert Swetman as partnership sales director and bringing on Kiah Foster and Ben Leach as partnership managers.

The firm has also appointed Emile McCarthy as its chief financial officer and hired Martin Baker as director of mortgages and protection at Fluent Money, which it bought in 2022.

The company reported £25.1bn in gross mortgage completions in 2023, and said it expects to recruit a high number of advisers and firms in the next few months.