Secure Trust Bank PLC
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Company Descriptions
Founded over 70 years ago, Secure Trust Bank is a leading retail deposit-funded specialist bank operating in four core markets: retail finance, vehicle finance, real estate finance and commercial finance. Secure Trust Bank’s management has simplified the business through the sale/exit of non-core businesses, repositioning the loan portfolio towards lower risk loans and focusing on reducing operating costs to drive efficiency (Project Fusion).
Investment Summary
Secure Trust Bank’s ambitious and achievable medium-term targets aim to deliver significantly higher profitability combined with a lower-risk earnings stream. Progress to date in repositioning the business gives us confidence in management’s ability to deliver on its medium-term targets. Secure Trust Bank targets a 14%-16% ROE, driven by a substantial reduction in the cost income ratio and strong loan growth, particularly in the consumer loan books (retail finance and vehicle finance). The key to much of this is Secure Trust Bank’s grip on technology and the extent to which it has been embedded across all businesses and integrated with its business partners.
Recent Content
Company Management Team
Ian Corfield
CEO
Appointed to the Board and as CEO on 8 September 2025.
Skills and experience:
Ian Corfield has spent over 25 years working in financial services. He served as Chief Commercial Officer of NewDay Ltd from 2014 to 2023 where he helped build the Company into a leading financial services provider. Previously Ian served as CEO of Aussie Home Loans and Business & Retail Banking at Bankwest, based in Australia, and prior to this he held a number of senior roles at HBOS Plc. Most recently Ian has worked as an adviser to HM Treasury and a Specialist Partner at Flint Global, a regulatory and competition advisory firm.
Long-term contributions
Ian brings a wealth of strategic, financial services and consumer finance expertise, with a focus on driving innovation in customer experience. This, coupled with his strong leadership skills and extensive track record of delivering profitable growth across organisations positions him well to successfully lead the Group and manage its day-to-day activities.
Rachel Lawrence
CFO
Appointed as Chief Financial Officer and to the Board as an Executive Director on 23 September 2020.
Skills and experience:
Rachel has considerable experience in financial services gained from a career spanning more than 20 years. She has held senior finance roles in Metro Bank, where she was part of the original team that set up the bank, and Shawbrook where she was part of the successful Initial Public Offering (‘IPO’). Prior to joining STB, Rachel was CFO at AIB Group (UK) plc. She brings a wealth of banking experience focussed on high growth start up organisations and wider financial services experience gained in asset management, life, pensions and general insurance. She is a qualified chartered management accountant. Rachel’s considerable experience in finance and banking proves invaluable in her role as Chief Financial Officer. She has a deep understanding of the Group’s businesses and strategy and has a strong track record of creating shareholder value.
