In his new role, Jon will lead the day-to-day running of the bank as it pursues its five-year plan following its investment from Värde Partners.

In addition, the specialist bank has named Leigh Bartlett as its new chief financial officer and executive director.

Leigh Bartlett, CFO at Masthaven

Leigh joins from tech company FNZ and has over 15 years of CFO experience, having previously held CFO positions at Williams & Glyn, Westpac Banking Corporation, RBS and Alliance & Leicester.

Andrew Bloom, CEO at Masthaven, said that the bank continued to deliver against its growth plans while simultaneously ensuring that it had the “right talent and ethos” within the business.

“Leigh is a high-calibre, experienced individual who shares our vision for the bank that Masthaven is and can become.

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“Jon has been a high-quality MD for Masthaven and is the right person to lead the day-to-day running of the bank as we pursue our five-year plan following the investment from Värde Partners.

“His move to CCO and deputy CEO is well timed and well deserved.”

Leigh added: “Masthaven is a key player in the UK challenger banking market and I’m looking forward to leading the bank’s finance function and playing a key role in the leadership of the bank as we move into the next stage of our evolution.”  

The bank also announced a number of other senior promotions, including Tricia Halpin, who has been promoted to chief people officer, and Paul McCan, who is now chief technology officer.

“These appointments reflect our continued investment in growing an expert team to help serve our customers, challenge the traditional high street lenders and be a bank which can whether any economic storm,” Andrew stated.

In July, Masthaven —which has 180 staff — moved to its new office in Covent Garden.