(Alliance News) - Equiniti Group PLC on Tuesday said it has appointed Paul Lynam as chief executive with effect on April 1.
He will be replacing Guy Wakeley, who is stepping down with immediate effect after seven years at the financial administration outsourcer. Non-Executive Director Cheryl Millington will become CEO on an interim basis until Lyman takes up the role proper.
Lynam will be joining from Solihull, West Midlands-based retail bank Secure Trust Bank PLC, where he was chief executive officer since 2010.
Secure Trust Bank themselves announced that Lynam would be replaced by Non-Executive Director David McCreadie with immediate effect.
McCreadie has been on the bank's board for two years since 2019, and his most recent executive role was as managing director of Tesco Bank for four years from 2015 to 2019.
"I am very pleased that Paul has agreed to join Equiniti as Chief Executive. Prior to Secure Trust Bank Paul led a range of diverse businesses including Lombard asset finance and the SME banking business of NatWest in the UK. He was one of the founding directors of UK Finance, the recognised trade body for the UK Financial Services industry. We are delighted to have attracted someone of Paul's experience to lead the group," said Equiniti Chair Philip Yea.
Equiniti said that it will publish its annual results on March 25, while Secure Trust Bank puts out a trading statement on January 21.
Shares in Equiniti were up 0.5% at 111.91 pence on Tuesday in London, while Secure Trust Bank's shares were 3.0% higher at 876.16p.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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