Finova Appoints Gareth Richardson As New Chief Executive Officer

People Moves
22.07.2025 09:55 am

Finova, the UK’s largest cloud-based mortgage and savings software provider, has today announced the appointment of Gareth Richardson as its new Chief Executive Officer (CEO). Gareth brings a wealth of experience in banking and technology, positioning him ideally to lead Finova through its next stage of growth and innovation.

Gareth joins Finova after six and a half years at retail banking technology firm Thought Machine, where he served as Chief Operating Officer and Deputy CEO. During his tenure, he played a key role in scaling the company into a globally recognised leader in cloud-native banking infrastructure, helping to redefine the industry’s approach to real-time, cloud-based systems.

His appointment marks a defining moment for Finova. Over the past 12 months, the company has completed its transition to a fully SaaS-based product suite, secured strategic investment from Bain Capital’s Tech Opportunities business and Octagon Capital, and merged with MSO under the Finova brand. It has also sustained commercial momentum, recently signing a landmark five-year partnership with Aldermore to deliver mortgage origination and servicing across buy-to-let, commercial real estate, and residential lending via Finova’s cloud-native lending platform.

Gareth’s arrival follows a wave of senior leadership hires and promotions, including Richard Marsh as Chief Customer Officer, Rowan Clayton as Chief Product Officer, and Richard Bolger as Chief Human Resources Officer.

Pranav Sood, Operating Partner at Bain Capital, said:
“We are delighted to welcome Gareth to Finova at this exciting juncture. Under its current leadership, Finova has built a market-leading business that now powers one in five mortgage originations in the UK. Gareth’s proven track record in scaling fintech companies, coupled with his deep technical expertise, makes him exceptionally well-suited to guide Finova’s continued evolution and deliver lasting value for our customers and stakeholders.”

Paraag Dave, Non-Executive Director of Finova and Managing Partner at Octagon Capital, said:
“Over the past few years, we have laid the foundations to enable Finova to scale. With these foundations firmly in place and a strengthened senior leadership team focused on product innovation and customer success, this is a perfect time to welcome a new CEO. Gareth’s vision and operating expertise are an ideal fit for Finova, and I look forward to working with him in the years ahead.”

Gareth Richardson, CEO of Finova, said:
“The fintech industry is entering a new era, driven by advances in AI and rapidly changing customer expectations. It’s a privilege to lead Finova at such a pivotal time.

“As the UK’s largest mortgage and savings technology provider, we’re uniquely positioned to capitalise on our scale and market experience to help customers navigate this shift. I’m excited to be joining a team of deep experts who bring real insight, energy, and ambition to this challenge.
“By accelerating the move to SaaS and working in close partnership with lenders, brokers, and customers, we’ll deliver the innovation needed to meet rising expectations — creating smarter, faster, and more personalised experiences for all.”