Joe
McCaughran has announced his departure from IG Group to join ClearBank as the
UK Chief Risk and Compliance Officer. McCaughran spent over 14 years
at IG Group, most recently serving as Group Chief Risk Officer. He will
be part of ClearBank’s Executive Committee in his new role.
ClearBank Appoints Joe
McCaughran as UK Chief Risk and Compliance Officer
“It’s
a privilege to be part of a fast-growing, tech-driven organisation that places
real emphasis on people, innovation, and doing things the right way,”
McCaughran, who joined IG as Compliance Manager in 2010, stated in his
announcement.
The
appointment comes as ClearBank
continues to expand its presence in the UK banking services sector. The
company, which provides clearing and banking infrastructure solutions, has been
building its executive team to support its growth trajectory.
Just last
month, on March 11, 2025, the company promoted Mark Fairless from Chief
Financial Officer to Chief Executive Officer. Fairless, who joined ClearBank in
January 2023, replaced co-founder Charles McManus, who stepped down from
day-to-day operations to become a non-executive member of the Group Board.
As reported
by FinanceMagnates.com,
ClearBank secured a European Central Bank (ECB) license last year, enabling it
to offer euro accounts and payments.
Extensive Risk and
Compliance Background
McCaughran
brings significant experience in financial risk management and regulatory
compliance to his new role. Prior to serving as Group Chief Risk Officer at IG
Group, he held several senior compliance positions within the organization,
including Group Chief Compliance Officer from September 2015 to August 2017.
His career
in financial services compliance spans nearly two decades, with previous roles
at ODL Securities, Willis Towers Watson, and JLT Group. Throughout his career,
McCaughran has developed expertise in areas including enterprise risk
management, regulatory compliance, and operational risk.
“Looking
forward to working with the talented team at ClearBank as we continue to build
something exceptional,” McCaughran added in his statement.
ClearBank,
founded in 2015, offers clearing and banking infrastructure services to
financial institutions and fintech companies. The company operates as a
clearing bank, providing services that enable other financial institutions to
offer banking products to their customers.
Neither
ClearBank nor McCaughran provided additional details about specific initiatives
or priorities for the risk and compliance function under his leadership.
This article was written by Damian Chmiel at www.financemagnates.com.
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