Sir David is currently Chairman of Numis Corporation PLC, the investment banking and securities group, and holds a number of other non-executive directorships including Pearson, Telefonica and Excel.
Sir David's earlier career was with media group EMAP where he spent 24 years, the last eight as Group Managing Director. He subsequently held a number of non-executive positions, including Barclays Bank plc between 1997 and 2006. As Chairman of O2 in 2006 he led the telecoms group's sale to Telefonica for £18 billion.
Sir David was Chairman of the Government's Better Regulation Task Force from 2002 to 2006 and has also advised the Conservative led coalition on regulatory policy. He received a Knighthood in 2005 for Public Service.
Announcing Sir David's appointment today Phillip Monks, Chief Executive of Aldermore, said: "We are delighted that Sir David has agreed to become our Chairman. He has had a highly distinguished business career and is widely respected in both business and Government circles."
"He also brings with him a wealth of experience as a Non Executive Director and in Board Governance in major organisations across a range of sectors, including finance and banking. We are all very much looking forward to working with him in taking Aldermore through the next stages in its development."
Sir David Arculus said: "The banking sector in the UK is going through a tough time. Aldermore is a new and fresh face with a great opportunity to provide UK SMEs, savers and homeowners the reliability and service they desperately need and deserve. I'm very impressed with the progress that Aldermore has made so far and am delighted to be involved with such an exciting business."
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