Mielczarek co-founded the Wrexham-based digital bank almost a decade ago and has been its chief executive ever since.
He will leave at the end of this month and is said to be taking some time out before deciding on his next move.
Handing over the reins
Mielczarek said: “What a journey it’s been. Starting a new bank was never going to be easy, and I am proud to see the progress Chetwood has made.
“From opening our first office in Wrexham and getting a banking licence to taking billions of pounds in deposits and expanding into different markets, the company has gone from strength to strength over the years.
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“It’s a testament to the brilliant people who work here, and the unwavering focus on creating financial products that make people better off.
“After 10 years, now’s the right time for me to hand over the reins to someone new.”
He continued: “There are such exciting, bold plans for Chetwood over the coming months and years, and now’s a logical time for a change in leadership to inject fresh life into the business and guide it through the next stage of its journey.
“I’ve no doubt Paul is the right person to do just that, and I wish him and the entire organisation all the very best.”
The bank was founded in 2016, obtaining a restricted banking licence the following year, before being granted a full banking licence in December 2018.
Chetwood’s expansion
Since 2019, more than £3.5bn has been deposited with Chetwood Financial’s savings proposition SmartSave.
Earlier this year, the company also entered the buy-to-let (BTL) market with the acquisition of the specialist lender CHL Mortgages for Intermediaries from Barossa Asset Purchaser Sarl in May, and plans to launch ModaMortgages in the near future.
Before Chetwood, Mielczarek was the deputy head of HSBC’s UK Retail Bank, having previously been the commercial director and head of retail products at HSBC Europe.
Prior to that, he held roles as CFO at M&S Bank, head of commercial finance at MBNA and brokerage operations director at Charles Schwab.
Paul Noble joins Chetwood Financial from JN Bank UK, where he was the chief executive of the banking group, whose products included savings accounts, loans and mortgages.
Noble has more than a quarter of a century of experience in financial services, spanning start-ups and large banks.
Before JN Bank, he spent six years at Pollen Street Capital, an asset manager focused on financial services.
Noble also previously co-founded 118 118 Money to provide an alternative for customers unable to borrow from their bank.
Noble said: “I am delighted to join Chetwood Financial. Andy and the team have built a brilliant digital bank here, and the opportunity to now help drive the company forward was one that I simply had to grab with both hands.
“There are really exciting plans in place, and I can’t wait to play my part. The emphasis will remain on delivering exceptional products and service to all our customers, but we have ambitions to enter new markets and fast-track our growth in the future.”
Ian Lonergan, group chair of Chetwood Financial, added: “First, we must recognise what an incredible job Andy has done in building Chetwood Financial from just an idea to being a fully-fledged digital bank that delivers market-leading products.
‘He has an inspiring level of drive, determination and vision, and he leaves the business in an extremely strong position.
‘We’re really excited to now welcome Paul as chief executive. Given his vast experience and superb leadership skills, we have every confidence that he will steer us confidently through the next chapters of our story.”
Noble joining the company is the latest in a string of appointments at Chetwood Financial.
In July of this year, Alan Cleary was named as the chair of its mortgage advisory board.
Meanwhile, in June, the bank hired Roger Morris as its group distribution director.
