BGL Group, the digital distributor of insurance and household financial services that operates brands including comparethemarket.com and life insurance provider Beagle Street, has announced that Matthew Donaldson has stepped down as CEO after seven years.
Donaldson, who is leaving Beagle Street after 20 years with the business, is being succeeded by Mark Bailie, who joins the from RBS Group.
Bailie, who became RBS Chief Operating Officer in 2016, was, until recently, the founder and CEO of Bó, its digital banking app.
Before joining RBS, Bailie spent a decade in private equity, leading large-scale buyouts. Prior to that he worked for PwC for five years, where he qualified as a chartered accountant.
New BDL Group boss Mark Bailie
* RBS COO since 2016
* Founder and CEO of RBS digital banking app Bó
* Decade in private equity
* Five years at PwC
* Qualified chartered accountant
Donaldson leaves BGL Group after joining it in 1999, when BGL acquired Arnott Century.
He led Budget Retail and subsequently the organisation’s e-commerce activity where he played a key role in the creation and establishing of comparethemarket.com. He was promoted to CEO in 2013.
Bailie, who will join BGL Group in September, is currently on secondment as one of the four business unit leads for the NHS Test & Trace service, a key element in HM Government’s response to coronavirus. His secondment will conclude prior to him joining BGL.
Until September, Dominic Platt, BGL Group Chief Finance Officer, will be Interim CEO and will lead the business on a day-to-day basis.
BGL Group Chairman Debbie Hewitt MBE 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 Financial Conduct Authority’s 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.”