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Secure Trust Bank CEO steps down to take on same role at Equiniti

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Secure Trust Bank CEO steps down to take on same role at Equiniti

Paul Lynam has resigned as CEO of Secure Trust Bank PLC after more than 10 years in the post to take on the same role at corporate payment solutions provider Equiniti Group PLC.

The U.K.-based bank appointed David McCreadie to succeed Lynam, effective Jan. 5. Lynam is stepping down from the board on the same day but will remain with the lender in an executive capacity until March 31 for an orderly handover.

McCreadie, who has been an independent nonexecutive director at Secure Trust Bank since December 2019, previously served as executive director and managing director at Tesco Personal Finance PLC, or Tesco Bank.

Secure Trust Bank said its board has also begun the process of recruiting an additional nonexecutive director.

In a separate Jan. 5 statement, Equiniti said Lynam will take over from Guy Wakeley as head of the group with effect from April 1. Wakeley will step down as CEO and as a director, effective immediately, by mutual agreement.

Cheryl Millington, an independent nonexecutive director at Equiniti, was named interim CEO until Lynam joins the group in April.