Donaldson, who has held the position of CEO for seven years, is leaving the company after over 20 years.
He joined the business in 1999, when BGL acquired Arnott Century. He progressed quickly through the organisation, leading budget retail and subsequently the organisation’s e-commerce activity where he played a key role in the creation and establishing of comparethemarket.com.
Progression to the role of COO was followed in 2013 by his promotion to CEO of BGL Group. He will be succeeded by Mark Bailie, who, subject to regulatory approval, will join BGL on 1 September 2020.
Bailie has spent 10 years at the Royal Bank of Scotland (RBS) and joined the RBS group executive in 2015. He became COO in 2016 and was, until recently, the founder and chief executive officer of Bó, its digital banking app.
Before joining RBS, he spent a decade in private equity, leading large-scale buyouts and prior to that he worked for ‘Big Four’ accountancy firm PwC for five years.
Until September, Dominic Platt, CFO will be Interim CEOand will lead the business on a day-to-day basis.
Debbie Hewitt , chairman, said: “After seven successful years as CEO, Matthew will be handing over to a new leader, who will set the priorities for the next phase of development for the business. We thank Matthew for the valuable contribution that he has made to BGL over the years and wish him well for the future.
“I am pleased to welcome Mark to our business. He has an extensive background in developing digital strategies for consumer facing businesses, as well as proven hands-on operational expertise and regulatory credentials, having sat on the FCA Open Finance Advisory Panel. He is thoroughly familiar with regulated and private equity-owned businesses and will bring strong consumer, people and brand-led experience.”
She added: “Our business remains robust, in spite of the uncertain external context of the coronavirus and we very much appreciate the hard work of all colleagues to ensure that we continue to focus on our customers and partners during these unprecedented times.”