ClearBank promotes Mark Fairless to CEO as Charles McManus steps down
ClearBank, a clearing and embedded banking firm based in the UK, has promoted its CFO, Mark Fairless, to CEO, effective immediately.
Mark Fairless, ClearBank’s new CEO (Image: LinkedIn)
Fairless takes the company’s reigns from ClearBank co-founder Charles McManus, who has held the CEO position since 2015.
McManus, who will continue to be involved in the firm as a non-executive board member, says “now is the time for me to take a step away from the business’ day-to-day operations” as the company prepares to expand its global footprint.
Last August, ClearBank secured a Credit Institution licence, which McManus described as the “first milestone” in the company’s global expansion strategy, with plans to enter additional markets, including the US.
McManus, who will remain as co-chair of the Innovate Finance Unicorn Council, is credited with steering ClearBank’s expansion to over 250 customers across the UK and Europe, while also leading the company to profitability in 2023.
Fairless joined ClearBank as CFO and board member in January 2023, and previously served as CFO of the M&G Heritage Business, a London-based international savings and investments enterprise.
His career also includes leadership roles at PwC, Barclays Capital, and Santander UK, where he spent over five years in positions such as head of transformation and head of planning and reporting.
