OneSavings Bank chief executive Mike Lazenby will leave the bank later this month.
Lazenby, who will leave the bank on February 28, was chief executive of Kent Reliance Building Society for more than 11 years.
He was involved in the creation of OneSavings Bank, which is jointly owned by Kent Reliance Provident Society and JC Flowers. The bank was created as part of a restructuring deal that saw a £50m capital injection from the private equity group.
The board has begun searching for a successor. In the meantime finance director Bob Scruton will become interim chief executive.
OneSavings Bank chairman Malcolm McCaig says: “He played a key part in the creation of OneSavings Bank, and, in doing so, has helped protect the interests of members as part of a bigger, better capitalised and competitive player in the financial services sector.
“Having achieved this, Mike and the board have agreed that the time is right for him to step down from his position as chief executive.”