Aldermore Group has today announced that Steven Cooper is stepping down as CEO.
Steven, who joined Aldermore in May 2021, has decided to leave for a new opportunity outside the banking industry where he has built a 20-year career. In his four and a half years with Aldermore, Steven has effectively executed on growth and efficiency strategies, navigated difficult sector related challenges and positioned the bank as one of the best places to work in the UK.
After Steven informed the board of his decision a few months ago, a process started to find a replacement and the board is pleased to confirm that Raj Makanjee will step into the role as CEO subject to regulatory approval.
Raj brings a wealth of experience of retail banking and operational leadership. He has spent 17 years with FirstRand Limited (FirstRand), Aldermore’s South African domiciled owner, predominantly in the First National Bank (FNB) franchise. At FNB Raj was responsible for growing the retail franchise which services 8.6 million clients, with advances of GBP 21 billion and deposits of GBP 18 billion and he was particularly instrumental in building out FNB’s private bank and market leading digital strategy.
Before FirstRand Raj spent 17 years as a Partner at Accenture where he consulted to banking, insurance and capital markets clients in South Africa and Australia.
Pat Butler, Chairman at Aldermore, said: “On behalf of Aldermore and the Board, I would like to thank Steven for his enormous contribution since becoming CEO, in the midst of the pandemic. Under his leadership, the bank has matured, integrated, and grown significantly, and has a clear strategy for the years ahead.
“We are delighted to welcome Raj to the team. With his extensive experience in financial services, he is ideally positioned to help drive our ambitions forward as we embark on the next chapter of our journey.”
Raj Makanjee said: “I’m excited to join Aldermore at a key moment in its evolution and to work with the leadership team to build on its momentum and broaden its reach.”
Steven Cooper said: "I’ve been proud to serve as CEO at Aldermore. My thanks to colleagues for everything we’ve achieved together, and my best wishes to the executive team as they lead the bank into its next phase. Aldermore is well placed and well set for the future.”
For further information contact:
Tania Suckley, Head of External Communications, Aldermore
Phone: +44 (0) 7584 461285
Email: tania.suckley@aldermore.co.uk
Ed Shelley, Lansons
Phone: +44 (0) 7825 427 522
Email: eds@lansons.com
Aldermore Group
Aldermore backs more people to go for it, in life and business. We champion equality by supporting and getting finance to the people who want to get on in life; building businesses, buying property, and purchasing vehicles.
The Group consists of two operating companies, Aldermore Bank plc and MotoNovo Finance Limited. Aldermore Bank provides finance to business owners, homeowners, and landlords, and supports savers. It operates exclusively online, by phone and through networks. MotoNovo Finance helps people buy their next car, van, or motorcycle.
Aldermore Group is part of FirstRand Group, one of the largest financial services groups in Africa by market
capitalisation.