Specialist mortgage lender Vida Bank has appointed Stuart Sinclair, the former chief executive of Tesco Bank, to the role of chair.
Subject to regulatory approval, Sinclair (pictured) succeeds Steve Haggerty, who held the position for nine years and will remain on the board as a non-executive director until September 2025.
Sinclair has held senior roles across banking, insurance, and consulting in the UK and internationally.
Aside from his position as the CEO of Tesco Bank, Sinclair previously held the role of chief executive of GE Capital UK’s consumer businesses and director of UK retail banking at RBS.
He currently serves as chair of international personal finance at Willis Ltd. Additionally, he has held board positions at LV, TSB, Lloyds Banking Group, and Schroders Personal Wealth.
Sinclair’s appointment comes two months after Vida secured its banking licence, which will allow the lender to expand its specialist mortgage offering and increase its market share.
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Anth Mooney, chief executive of Vida Bank, said: “Opportunities to recruit someone of Stuart’s calibre and experience are rare. His extensive experience in leading some very well-recognised financial institutions, combined with his deep understanding of the market, makes him the ideal person to guide Vida Bank as we look to scale the business.
“I’d also like to take this opportunity to thank Steve Haggerty for his exceptional leadership over the past nine years. Steve’s dedication and thoughtful guidance has been instrumental in building Vida’s strong foundation and ultimately securing our approval to operate as a bank.”
Sinclair added: “With its strong funding base, talented team, and commitment to delivering innovative solutions in the specialist mortgage market, Vida is well-positioned to make a significant impact.
“I look forward to working with Anth, the board, Pine Brook, and new investors to help the business flourish in this next chapter.”
