UK bank Aldermore Group, which has agreed to be taken over by South African lender FirstRand, has appointed Pat Butler as chairman starting from January 1.
Butler, who will take over once the FirstRand deal is completed, was a partner at The Resolution Group, which conducts investment and restructuring activities in financial services, Aldermore said.
Pat Butler, currently an independent non-executive director of Bank of Ireland Group, is set to step down from that position at the end of the year.
He is also on the board of Hikma Pharmaceuticals and insurance company Ardonagh Group.
Aldermore is one of a group of so-called UK challenger banks that emerged after the financial crisis to fill a gap in small business lending and capitalise on problems at bigger lenders such as Royal Bank of Scotland and Lloyds.
