Mr Wood brings significant experience to the position, gained throughout his 25-year executive career in regulated financial services and banking. He has led transformational change and growth in complex, private equity-backed businesses, generating significant shareholder value.

Mr Wood’s breadth of experience in strategy development and execution, M&A and capital markets will enable Progeny to advance its ambitious agenda. His appointment will strengthen the executive team as Progeny prepares for the next phase of growth and positions itself as a global business.

His executive career includes the role of chief restructuring and financial officer of the Co-Operative Bank plc, from 2017 to 2019, having co-advised on its third recapitalisation.

Prior to this, Mr Wood was CEO and CFO of Shawbrook Group plc, where he led the business through its successful initial public offering and entry into the FTSE 250.

He is also an experienced adviser, investor and independent non-executive director.

Mr Wood said: “I’m delighted to join Neil and the team at this exciting and energising time for Progeny.

“Progeny is a unique business well positioned to extend its scale and reach. I look forward to contributing to our future success.”

Neil Moles, chief executive officer of Progeny, said: “We’re very happy to welcome Tom to Progeny.

“Having spent time inside the business in an advisory capacity, he’s seen first-hand our ambition and what we’re seeking to achieve and has decided he wants to be a part of it.

“From a CFO of his pedigree and experience, I couldn’t think of a greater accolade for our business.

“Tom’s CV speaks for itself in that he is a highly skilled and strategic operator at this level with a demonstrable track record of success and we’re very excited about what he’ll contribute to Progeny.”