Secure Trust Chief: Ex-Treasury Adviser Hire
- Secure Trust Bank has tapped Ian Corfield, previously a Treasury civil servant, as its next chief executive officer.
- Corfield's background includes donating over £20,000 to Labour politicians, including £5,000 to Rachel Reeves, now chancellor.
- Before joining the Treasury, Corfield worked as a senior business adviser to the Labour party from January to July of last year, according to his LinkedIn profile.
Ian Corfield, a former Treasury official, has been appointed as the new CEO of Secure Trust Bank, marking a pivotal shift for the financial institution. This appointment follows corfield’s departure from the Treasury last November, amid scrutiny over donor ties and his previous role as a business advisor to the labour party. The news sparks immediate debate, given Corfield’s £20,000+ in donations to Labour, including to current chancellor Rachel reeves. His brief tenure at the Treasury and the circumstances of his appointment raise questions about cronyism. The Civil Service Commission approved his temporary 16-week position.News Directory 3 is following the story. How will Corfield’s leadership effect Secure Trust? Discover what’s next in this developing story.
Corfield Named Secure Trust Bank CEO Amid Cronyism Claims
Updated June 17, 2025
Secure Trust Bank has tapped Ian Corfield, previously a Treasury civil servant, as its next chief executive officer. The bank announced Tuesday that Corfield will begin as chief executive designate later this month and fully assume the role in August. This appointment comes after Corfield’s departure from the Treasury last November, wich followed criticism of government ties to major donors.
Corfield’s background includes donating over £20,000 to Labour politicians, including £5,000 to Rachel Reeves, now chancellor. Following Labour’s election victory last year, he briefly served as a temporary director of investment at the Treasury. This appointment drew fire because the Civil Service Commission was not informed of his donations, and the position wasn’t filled through an open recruitment process.
Before joining the Treasury, Corfield worked as a senior business adviser to the Labour party from January to July of last year, according to his LinkedIn profile. He shifted from a salaried director role to an unpaid adviser after backlash, leaving the Treasury after only five months.
The Civil Service Commission confirmed Corfield’s appointment was approved as an “exception” for a limited 16-week period to support the Global Investment summit.James Murray, exchequer secretary to the Treasury, stated Corfield was hired for “urgent work” that precluded a full recruitment process.
Corfield will leave his current role at Flint Global, an advisory group lead by former Labour minister James Purnell, upon becoming Secure Trust’s chief. Secure Trust highlighted Corfield’s previous position as chief commercial officer of credit provider NewDay from 2014 to 2023.
secure Trust reported a lending rebound last month after a November profit warning, which followed the Financial Conduct Authority’s probe into the motor finance scandal. Earlier this year, Reeves’ attempt to intervene in a Supreme Court case concerning car finance commissions was rejected.
What’s next
Corfield’s transition to Secure Trust Bank will be closely watched, especially given the prior scrutiny surrounding his government service and political affiliations. The bank’s performance under his leadership will be a key indicator of the success of this appointment.