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(Sharecast News) - Vanquis Banking said on Wednesday that it has appointed John Natalizia as chief executive officer with immediate effect.
Natalizia will succeed Ian McLaughlin, whose departure was announced in September. Natalizia joined the company in July 2023, following the acquisition of fintech Snoop, which he co-founded, and has been a member of the Group Executive Committee since then.
He was appointed deputy CEO in April 2026 and has had executive responsibility for the group's product offerings, and technology and change delivery, which incorporates the Gateway transformation programme.
Vanquis said Natalizia has over 25 years of banking experience, including a range of senior commercial, digital, operational and transformation roles at Virgin Money and MBNA.
Chairman Sir Peter Estlin said: "John brings extensive experience to the role, together with a deep understanding of Vanquis and the customers we serve. Vanquis has undergone substantial change in recent years, including the modernisation of its technology and operating capabilities. John has played an important role in that transformation, working closely with the board and leadership team across the business.
"The board believes John has the required experience, commercial focus and understanding of the business needed to lead Vanquis in its next phase, with a clear focus on disciplined execution, and delivering shareholder value."
At 0940 GMT, the shares were down 0.4% at 42.50p.
Broker Shore Capital said: "Overall, we see John Natalizia's appointment as a sensible and pragmatic choice at an important point for Vanquis. His immediate emphasis on execution, efficiency and ensuring growth and investment translate into sustainable returns is well aligned with the areas where we believe the group now needs to demonstrate progress.
"However, given continued uncertainty around the operational recovery following two recent profit warnings, we leave our recommendation and target price under review."
At 0945 GMT, the shares were down 0.4% at 42.50p.
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