Equals, a B2B focused e-banking and international payments group, has appointed Alan Hughes as its new non-executive chairman.
Hughes is replacing John Pearson, who will stand down from the position following the annual meeting of the Group scheduled for today. Pearson will still remain on the board of the company as a non-executive director.
“I have really enjoyed the last five years with Equals as Chairman taking it from a single product start-up to its current level with a broad product range of integrated money management solutions,” Pearson said, mentioning his departure. “We have been planning a Chair succession for some time and I am delighted to be handing over this role to Alan later this morning.”
Decades of experience in finance
Hughes joined the Group last February as a non-executive director and is currently also holding the position of non-executive chairman of Unity Trust Bank and senior independent director and deputy chair of Hitachi Capital (UK).
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He has decades of experience on the board of many fast-growth banks and fintech businesses. He also headed challenger bank First Direct as its chief executive.
Previously, he also held a non-executive director role for New Day Group, private equity-backed issuers of credit cards, and was the chairman of Retail Money Market Limited. He was also was an executive board member and general manager at HSBC Bank.
“Alan started with us as a Non-Executive in late February this year and I believe that his extensive sector and Chair experience will provide Equals with additional Board depth as the Group is poised for the next chapter of its journey,” Pearson added.
“John will remain on the Board as a Non-Executive Director and will continue to offer his invaluable insights and advisory guidance. I look forward to bringing my own expertise to my new role and supporting the Executive team in the Group’s plans to continue to progress and expand the business,” Hughes said.