Former Group Commercial Director with Permanent TSB, Mark Coan, has launched a new money advice and brokerage business called moneysherpa.

The new company will focus initially on providing mortgage advice to customers looking to switch mortgage but will expand its offering in the months ahead to include the full range of financial services.

Mr Coan, who was with Permanent TSB from 2016 to 2020 also has a background in media and was Chief Commercial Officer for Independent News and Media, and Vice President, Consumer with Virgin Media.

He said the goal for moneysherpa is to create a straightforward online service where people can learn about financial products as well as purchase them.

"The gap in the market for me is around financial literacy and empowering people to take ownership of their financial futures," he said.

"I want to combine my experience in media and financial services to create a new type of money adviser in Ireland. moneysherpa's goal is to help people make smarter financial decisions," he said.

Me Coan said they are starting with a mortgage switching service, as that is where they feel they can make the most difference to people at the moment.

"There are over two hundred thousand people in Ireland who could save over €20,000 by switching, but they don’t because they don’t know how to.

"Our tech and sherpa teams will put them on the right path and help them save money," he said.