Says, who joined the challenger bank in 2021 as CFO, became CEO in August 2024 following the departure of co-founder Stephen Lancaster. Under his leadership, GB Bank secured its full banking licence, raised growth capital to support expansion and reached profitability. He will remain on the board to provide knowledge and guidance, the bank said.
Says (pictured) said: “I joined GB Bank with a clear objective: to build and scale a bank from pre-authorisation through to sustainable profitability. Having achieved what I set out to do, with the bank now on a strong and self-sustaining footing, this is the right time for me to step down from the executive role and begin the next chapter of my career.
“Eddie is the right person to lead GB Bank forward, and I am confident the bank has a very bright future.”
Trahearn takes over
Eddie Trahearn joined GB Bank in 2021 as head of treasury and funding and has played a central role in shaping the bank’s strategy, funding model and growth trajectory. He previously held senior treasury and balance sheet roles at Belmont Green, LendInvest and Charter Savings Bank. His new role is subject to regulatory approval.
Aldermore Insights with Jon Cooper: Edition 9 – Why lending strategy is becoming more central in buy to let
Sponsored by Aldermore
Alongside the CEO transition, GB Bank is strengthening its executive team. Pankaj Thukral, chief lending officer, will broaden his role to become deputy CEO. Adam Royal, currently head of finance, will step into the role of CFO, and Tom Graham, group treasurer, will become chief capital and treasury officer. Together with Anne-Marie Lister, chief operating officer, and Rupert Carlton, chief risk officer, they form a talented, strong and experienced leadership team to guide GB Bank going forward.
“I would like to thank Mike for his leadership and for the platform he has built. We have achieved a great deal in a short period of time and have significant opportunities ahead.
“I am excited to take on the role of CEO, supported by a strong and experienced executive team,” Trahearn said.
Huw Morgan, GB Bank’s chair, added: “We are delighted to appoint Eddie as CEO. His deep understanding of the business and strong strategic and financial credentials makes him ideally placed to lead GB Bank through its next phase.”
Scale-up plans
The leadership transition marks the next phase for GB Bank as it continues to scale its position. Originally established as Model T Finance Company, the firm spent five years navigating the UK’s regulatory landscape, eventually securing a full banking licence in August 2022. Headquartered initially in Middlesbrough, it made history as the first bank based in the city.
It is focused on delivering practical financial solutions across retail savings, property-backed lending and specialist funding for the SME community.
The bank announced its first year of post-tax profit in January.
