Leigh was previously CFO at the specialist bank, a position he held for seven months.

Before that, he worked at technology company FNZ and has more than 15 years of experience as a CFO, including at Williams & Glyn and Royal Bank of Scotland.

The announcement follows the news that Masthaven founder Andrew Bloom was to step back from his position as CEO at the end of April this year.

Andrew will continue to remain on the board as a non-executive director.

Jon Hall will remain in his current role as CCO and deputy CEO.

“To say this is an interesting time to be stepping up to the CEO role of the bank is an understatement,” commented Leigh.

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“Nonetheless, I’ve been so impressed by the efforts of all our colleagues and our corporate and intermediary partners as we’ve rapidly transitioned to remote working and continued to serve our customers through the coronavirus crisis. 

“Masthaven remains open for business with the financial backing of Värde Partners and our retail savings deposits, which has proven invaluable during this time.

“Masthaven is a key player in the UK specialist banking market and I’m looking forward to leading the bank as we move into the next stage of our evolution.”

Andrew added that Masthaven had been a “major part” of his life over the past 15 years. 

“We have built an incredibly strong foundation and a great leadership team.

“I know I’m leaving the bank in safe hands with Leigh as CEO and Jon as Deputy CEO.

“As a non-executive director and significant shareholder, I will continue to assist the leadership team whenever I am needed and can add value.”

In January, the bank announced nine promotions across its short-term lending team.