New British bank Aldermore has appointed Sir David Arculus as its new chairman.
Arculus is currently chairman of Numis Corporation and holds a number of non-executive directorships, including Pearson, Telefonica and Excel.
He spent 24 years at media group EMAP and spent between 1997 and 2006 at Barclays in non-executive positions. As chairman of O2 he led the telecoms group’s sale to Telefonica for £18bn.
Arculus was chairman of the Government’s Better Regulation task force from 2002 to 2006 and has also led the coalition on regulatory policy. received a knighthood in 2005 for public service.
Chief executive Phillip Monks says: “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.”
Arculus says: “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.”