Cheltenham & Gloucester has confirmed that chief operating officer Joy Griffiths will be replacing Jon Pain as managing director of mortgages.
Pain will be taking the role of advisory chairman at C&G until the end of the year to help support the transition.
This follows the recent news that head of intermediary sales John Champion will be leaving the lender.
Griffiths joined C&G in June this year as chief operating officer and has been responsible for managing the restructure of the branch network and intermediary business as well as marketing, operations, organisational change and technology.
Griffiths says: “I am thrilled to have the opportunity to lead the C&G team. This is an exciting time, and I look forward to taking C&G on to the next level.
“Over the last thirty-three years, Jon Pain has made an enormous contribution to the Lloyds TSB Group. He has brought us both expert knowledge and significant experience, not only in his role as managing director at C&G but also in his previous roles as managing director of Lloyds TSB Insurance and Lloyds TSB Private Banking. I am grateful that he has accepted the role of Chairman to continue to offer his expertise until the end of the year.”