Fairstone Group has appointed former Aldermore Bank CEO Steven Cooper as its new chief executive officer.

He will take over from Fairstone’s founder Lee Hartley, who becomes deputy chair.

The firm said the move is set to support the acquisitive firm's growth strategy to double the size of its business by the end of 2030.

Mr Cooper, who will take up the position later this autumn, has more than 30 years of experience in the financial services sector.

He began his career aged 16 as a branch cashier at Barclays before rising to lead a number of Barclays’ businesses, including as CEO at Barclaycard business, personal banking for UK & Europe, and business banking in the UK.

He has been group CEO at private bank C Hoare & Co and most recently he was group CEO at Aldermore Bank where he led the business through a period of growth, almost doubling its size after joining in May 2021.

He served as joint chair of the Social Mobility Commission and was awarded a CBE in 2022 for services to banking and social mobility. He is the current UK chair of consumer credit reporting agency Experian PLC and has served as a non-executive director on a variety of regulatory and listed boards.

He said: “I’ve always believed that integrity, stewardship, and high professional standards are essential to building trust and delivering strong outcomes.

“I’m looking forward to working with colleagues across the business to support our clients and help shape the next phase of Fairstone’s journey.”

Earlier this year, Fairstone marked two milestones: reaching £20b in client assets under management (AUM) and completing its 100th partnership within the wealth management sector through its downstream buy-out investment model.

Fairstone founder Mr Hartley said: "Fairstone has reached a significant point in its journey, and I’m pleased to be handing over to Steven as he takes on the next phase of leadership. His experience and values are well aligned with the business as it advances towards its 2030 goals.”