ClearBank has announced the appointment of Mark Fairless as its new Chief Executive Officer. Fairless, who has served as the company’s Chief Financial Officer and Group Board member since January 2023, takes over from co-founder Charles McManus. McManus will continue to support the company’s strategic direction as a non-executive member of the ClearBank Group Board and remain co-chair of the Innovate Finance Unicorn Council.
Fairless steps into the CEO role following a pivotal period where he was instrumental in driving ClearBank’s long-term strategy, business optimisation, and preparing the company for scalable growth. His leadership comes as ClearBank holds a European banking license and is gearing up for expansion into new markets.
Prior to joining ClearBank, Fairless held senior leadership roles, including CFO of the M&G Heritage Business, as well as key positions at Santander UK and Barclays Investment Bank. His two decades of experience in financial services make him a strong fit to lead ClearBank into its next chapter.
Peter Herbert, Group Chair of ClearBank, commented:
“Mark is a proven leader with a track record spanning over two decades in financial services. With our European banking licence in place and ambitious expansion plans ahead, Mark’s deep understanding of our business and strategic vision make him the ideal leader to guide ClearBank towards greater success.”
Herbert also expressed his gratitude to McManus for his exceptional leadership:
“Under Charles’ leadership, ClearBank has achieved significant milestones and established itself as a market-leading clearing and embedded banking provider. We are pleased he will continue contributing to the business from the Group Board.”
Fairless said of his appointment:
“I’m thrilled to lead ClearBank as CEO. With strong foundations, high-calibre clients, and enormous growth potential, we are well positioned for the next phase of ClearBank’s evolution.”
McManus reflected on his nine-year tenure as CEO:
“It’s been a privilege to lead ClearBank. I hand over to a trusted partner in Mark Fairless, who has been central to our success in recent years. I remain fully committed to ClearBank’s future and look forward to supporting the team from the Board.”
Founded in 2015, ClearBank has grown to serve over 250 customers across the UK and Europe. The leadership transition signals the company’s continued focus on innovation and growth in the clearing and embedded banking space.
