ClearBank has appointed Mark Fairless, formerly CFO, as its new CEO. ClearBank’s co-founder and former CEO, Charles McManus, will continue to play an active role in driving the business strategy as a non-executive member of the Group Board.

Mark Fairless, who has served as ClearBank’s CFO and Group Board member, since January 2023, has been appointed CEO. Fairless has been instrumental in implementing the business’s long-term strategy, driving optimisation, and positioning ClearBank for scalable growth.

After co-founding ClearBank in 2015 and building the business to serve more than 250 customers in the UK and Europe, McManus has stepped away from the day-to-day running of the organisation. He will continue to support the business with his role on the ClearBank Group Board, where the company will benefit from his expertise and guidance. He will also remain as co-chair of the Innovate Finance Unicorn Council.

Before joining ClearBank, Fairless was most recently CFO of the M&G Heritage Business, a leading international savings and investments business. With two decades of experience in financial services, he previously held senior positions at Santander UK and Barclays Investment Bank.

Peter Herbert, Group Chair of ClearBank, said: “Mark is a proven leader with a track record spanning over two decades in financial services. With our European banking licence in place and plans in place to expand into additional markets, we are excited to enter a new chapter at ClearBank under Mark’s leadership. Mark’s deep understanding of our business, coupled with his strategic vision, makes him the ideal person to build on our foundations and guide ClearBank towards even greater success. 

“I’d like to thank Charles for his outstanding contribution to ClearBank since its establishment. Under his leadership, we have achieved significant milestones and firmly established ourselves as a market-leading clearing and embedded banking provider. I am grateful for his tireless commitment to the business and I am pleased we will continue to benefit from his experience and expertise as a Board member.”

Mark Fairless, CEO of ClearBank, said: “I’m thrilled to lead ClearBank as CEO. This is a business that has made significant strides in recent years and which has huge potential to go further. With such strong foundations, we’re primed for the next phase of ClearBank’s evolution, with high calibre clients and with the business well placed for further growth.” 

Charles McManus, member of the ClearBank Group Board, said: “It’s been a huge privilege to lead ClearBank during the last nine years. I hand over to a trusted partner who has been at the centre of the business during the last two years and who will be a brilliant leader as we continue to evolve and prepare for further growth. My commitment to and belief in ClearBank remain unwavering. Given our great momentum, now is the time for me to take a step away from the business’ day-to-day operations, while continuing to represent the industry as a whole via my involvement with the Unicorn Council.”