Tandem CEO Knox leaves

Tandem CEO Knox leaves

Tandem Bank CEO Ricky Knox is leaving the digital challenger he co-founded, to be replaced by former Credit Suisse executive Susie Aliker.

Tandem says that the board "has agreed" with Knox that he will "step down" as CEO and director.

Knox, who previously founded money transfer service Azimo, set up Tandem with Capital One's Matt Cooper in 2014, one of a host of digital upstarts that shook up the UK market that had been dominated for decade by a handful of high street giants.

However, in September it undertook a business pivot in the midst of the pandemic, shutting down its credit cards to focus instead on plain vanilla savings and loans.

Knox's departure comes as Tandem investor Pollen Street Capital takes a more hands on role at the lender.

In a statement, Tandem says it has been working with Pollen Street Capital "to create a banking platform which gives customers access to borrowing options that promote environmentally responsible home ownership and home improvement in the UK".

Tandem's statement offers no comment from Knox, although chairman Jeffrey Pritchard says the founder "leaves Tandem with our good wishes".

Aliker takes over after 14 years at Credit Suisse and, most recently, six years at wholesale bank BACB, where she has been CEO since 2018.

Says Aliker: "I am delighted to be part of the next stage in Tandem’s journey, continuing to develop our banking proposition and helping our customers make money choices for a greener future."

Comments: (1)

Andrew Smith
Andrew Smith - RTGS & ClearBank - London 26 May, 2021, 11:53Be the first to give this comment the thumbs up 0 likes

Its always a shame when you see founders leaving a business. Unfortunately its becoming a theme in financial services, with the companies "losing" their way somewhat once a founder steps away...