Alba Bank has announced that Rod Ashley is stepping down from his role as chief executive after six years in post.

He said that it was “the right time to step aside”, adding that he had enjoyed his time as chief executive.

Jonathan Thompson will take on the role of acting chief executive to lead the Scottish neobank. The company said he brings “extensive start-up and SME banking experience” to the role. Prior to joining Alba, Thompson held senior positions at Santander UK, Deloitte and Lloyds Banking Group.

Alba Bank also announced that it has hired Dominic Wade as chief financial officer. He joins the firm from Unity Trust Bank, where he held the same role.

“Rod has been a part of the Alba story for six years but has decided now is the right time to move onto other interests,” said Robert Sharpe, Alba’s chair. “He leaves with our thanks and best wishes.”

Last month, Alba Bank announced the appointment of Michael Mustard as general counsel and company secretary ahead of its planned market entry.

Having been granted its banking licence by the UK Prudential Regulatory Authority PRA and the Financial Conduct Authority in early 2023, the bank has spent the past year building out its team, operations and infrastructure, preparing for market entry in 2024.

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