Halifax is launching an internet venture aimed at attracting new customers to the bank.
The internet driven Greenfield.co will offer customers a range of products including banking, consumer lending, protection and investments. Customers will also be able to access the service via the telephone.
Halifax has poached Standard Life Bank managing director Jim Spowart to head up the new division.
He will join Greenfield.co on October 6 just two days after Standard Life announced he was to leaving to "pursue another business opportunity."
Greenfield.co will be based in Central Scotland with its own distinct branding and organisation. It will also target its services at non-Halifax members.
Halifax chief executive James Crosby says: "Halifax's great strengths, our brand and low cost income ratio, allow us to focus on the opportunity presented by new technology to create new products and services for our customers.
"Jim Spowart is widely admired as one of the pioneers of direct banking and he is ideally qualified to spearhead Halifax's screen based developments."