Andy Mielczarek to Step Down as CEO of Chetwood Financial

Andy Mielczarek is stepping down as CEO of Chetwood Financial, nearly a decade after co-founding the digital bank. Paul Noble has been announced as his successor, pending regulatory approval.

Chetwood Financial, established in 2016 and based in Wrexham, obtained a restricted banking licence in 2017 and a full UK banking licence in December 2018. Since then, it has grown significantly, with over £3.5 billion deposited in its SmartSave savings product. In 2024, Chetwood expanded into the buy-to-let mortgage sector through the acquisition of CHL Mortgages for Intermediaries, with plans to launch ModaMortgages soon.

Mielczarek has led the bank since its founding. Previously, he served as Deputy Head of HSBC’s UK Retail Bank and held senior roles at M&S Bank, MBNA, and Charles Schwab. He will leave at the end of this month to take a break before exploring his next steps.

Paul Noble, who will take over as CEO, joins from JN Bank UK, where he served as CEO. He brings more than 25 years of financial services experience, including roles at Pollen Street Capital, Tandem Bank, and 118 118 Money, a company he co-founded to serve customers unable to borrow from traditional banks.

Reflecting on his departure, Mielczarek said: “It’s been an incredible journey. Starting a new bank was a challenge, but seeing Chetwood grow from a small office in Wrexham to a leading digital bank has been deeply rewarding. Now is the right time to pass the baton. With exciting plans ahead, I’m confident Paul will lead the company through its next phase of growth.”

Ian Lonergan, Group Chair of Chetwood Financial, praised Mielczarek’s contributions: “Andy has done an exceptional job building Chetwood from the ground up. His vision and leadership have put the company in a very strong position. We are excited to welcome Paul as CEO and are confident he will guide us successfully into the future.”

Noble expressed his enthusiasm, saying: “I’m thrilled to join Chetwood Financial. Andy and the team have built an impressive digital bank, and I’m eager to help propel the company forward. Our focus will remain on delivering top-notch products and service while exploring new markets and accelerating growth.”