He will be succeeded by Ian Corfield as CEO designate, with effect from 23 June, and chief executive from 16 August, subject to regulatory approval.
The nomination committee of Secure Trust Bank has begun its succession plans, and to help with the transition, McCreadie will be available to support the business until June next year.
McCreadie has been in financial services for nearly 30 years and was previously the managing director of Tesco Bank and spent 22 years at the Royal Bank of Scotland (RBS). While at Secure Trust Bank, he oversaw the growth of its lending businesses and streamlined the organisation, including its exit from the residential market in 2021.
Corfield brings more than 20 years of experience to the role and was most recently the chief commercial officer of NewDay from 2014 to 2023.
He was also the chief executive of Aussie Home Loans and held senior roles at HBOS. Corfield was most recently an adviser to HM Treasury and will step down from his role as a specialist partner at regulatory and competition advisory firm Flint Global, before taking up his position at Secure Trust Bank.
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Jim Brown, chair of Secure Trust Bank, said: “On behalf of the board, our colleagues and our shareholders I would like to thank David for his commitment and contribution to the group throughout his tenure. Since his appointment as CEO, David has driven strong progress against our lending ambition of £4bn. He has led the transformation of the group into a simplified and more focused business, restructuring our operational platform to ensure the group is well-positioned for future growth and improved returns.
“We are delighted to welcome Ian Corfield to the board and as CEO. Ian brings significant strategic, financial services and consumer finance expertise with a focus on driving innovation in customer experience. Throughout his career, he has demonstrated exceptional leadership skills and developed a strong track record of delivering profitable growth. We look forward to working with Ian to accelerate our growth plans and deliver value for our customers, colleagues, and shareholders.”
McCreadie (pictured) added: “It has been a privilege to lead Secure Trust Bank and to work with so many talented people. I am proud of the transformation we have delivered together to define a clearer purpose and direction for the group, and I would like to thank current and former colleagues for their support, hard work and commitment.
“We expect to achieve our current strategic ambitions in the near term and the foundations are in place to support the delivery of enhanced returns. As a result, it is the right time to transition the CEO role to ensure consistent leadership during the next phase of the group’s strategic development. I look forward to working with Ian, my colleagues and the board to ensure an effective transition.”
Corfield said he looked forward to working with the board and executive team to drive the future success of the business.
He added: “It is an exciting time to be joining the group as we set our strategy for 2026 and beyond. The key priority will be to continue to execute on our plans to enhance returns.”
