Provident Financial plc announced that Malcolm Le May has decided to step down as Chief Executive Officer (CEO). The Group is also announced the appointment of Ian McLaughlin as CEO and Executive Director, subject to regulatory approval. Malcolm Le May will continue as CEO until Ian joins, and then will remain with PFG to support an orderly transition.

Ian is expected to join PFG in the summer, following his notice period. Malcolm became CEO in February 2018, having been appointed Executive Chairman in November 2017. He joined the PFG Board in 2014 as a Non-Executive Director.

Ian McLaughlin is a highly experienced banking CEO. He has a strong track record of delivering growth through improving customer service and enhancing distribution throughout his extensive financial services career in consumer finance, motor finance, savings, SME finance and mortgages. Ian is currently the CEO of Bank of Ireland UK and has been since 2019.

Prior to this, he was Managing Director for Home Buying and Ownership at NatWest, and before joining that he was Wealth Management Director at Lloyds Banking Group. His appointment follows a thorough process conducted by the Nomination Committee with the assistance of a leading executive search firm.