Our board

Dame Denise Holt

Chairman and Non-Executive Director

Dame Denise joined the Marks & Spencer Financial Services plc Board in August 2013 as a Non-Executive Director and was appointed Chair in December 2013. 

She was formerly a senior British Ambassador with over 40 years' experience working in government, including postings in Ireland, Mexico, Brazil, and most recently, as British Ambassador to Spain.

Dame Denise served as an independent Non-Executive Director on the Board of HSBC Bank plc since 2011, and was appointed to the Board of HSBC UK Bank plc in May 2018.

Dame Denise is chair of the University of Sussex and holds Non-Executive Director position on Iberdrola SA.

She was appointed Dame Commander of the Order of St Michael and St George in 2009, and awarded an Honorary Doctor of Laws by Bristol University in 2012. Dame Denise is married with one son.

Paul Spencer

Chief Executive Officer

Paul Spencer joined M&S Bank as Interim CEO in February 2019 and was appointed CEO in May 2019. Paul is also a Director of Marks & Spencer Financial Services plc and Marks and Spencer Unit Trust Management Limited.

Prior to joining M&S Bank, Paul was Chief Control Officer for HSBC's Retail Banking and Wealth Management business, he also previously held the position of CFO for M&S Bank, formerly known as M&S Money. Paul holds an honours degree in Accounting and Financial Management from Loughborough University and qualified as a Chartered Accountant with Ernst and Young.

Outside of work, Paul enjoys football, tennis and travelling. He lives with his partner and their two sons.

Phil Scott

Chief Financial Officer

Phil joined M&S Bank in December 2003 as part of the Finance Treasury team. Phil was appointed Financial Controller in 2007 and in September 2009 he was appointed to his current position of Chief Financial Officer.

Phil studied mathematics at the University of Liverpool, he is a chartered accountant and trained with PricewaterhouseCoopers prior to joining M&S Bank. Phil is married with two children.

Matt Handley

Chief Risk Officer

Matt joined M&S Bank in 2015 as Chief Risk Officer, he is responsible for ensuring that M&S Bank's governance framework effectively identifies and manages any areas of risk for the business.

After studying at Durham University, gaining a master's degree in Chemistry, Matt began his career working for the HSBC Group in 2001, where he has held a number of risk positions in both UK and European roles. Matt has two young children.

Stuart Haire


Stuart Haire joined the Board of Marks and Spencer Financial Services plc in December 2017.

He joined HSBC in April 2016 and has direct accountability for HSBC's entire RBWM business in the UK. He is responsible for driving the customer voice through the group in order to grow the business by enhancing customer experience, supporting increased sales and the retention and expansion of client relationships.

Previously Stuart was leader of the Direct Bank for personal and SME customers of NatWest, RBS and Ulster Bank. The Direct Bank was made up of Digital (proposition development, online & mobile banking), Digital Support (social media, webchat, communities and support centre) and Service Centres (telephony sales and service centres). Previous roles at RBS included responsibility for Credit Risk, Compliance, Operational Risk, Product Management, Commercial Performance, Strategy, Capital Management and Treasury.

Stuart has a strong academic background culminating in a First Class Degree from The University of Glasgow in Physics and Electronic Engineering followed by a short time at the European Space Agency.

Stuart is married and lives in Scotland with his wife and two children.

David Stewart

Non-Executive Director

David Stewart was appointed a Non-Executive Director on the Boards of Marks & Spencer Financial Services plc and Marks and Spencer Unit Trust Management Limited with effect from July 2014. David is also Chair of the Audit & Risk Committee.

David was formerly Chief Executive of Coventry Building Society, a position he held from July 2006 until March 2014. Prior to this, he held Board-level responsibility for the finance, sales and marketing, and operations functions at various times during his career at Coventry Building Society.

Before joining the building society, David spent 10 years at DBS Management plc, initially as Financial Controller, before being appointed Finance Director in 1993. He went on to hold a number of senior positions in the business, before taking on the role of Group Chief Executive.

David, originally from Manchester, studied Economics and Politics at Warwick University and trained as a chartered accountant with Peat Marwick (now KPMG). David is also a Non-Executive Director on the Boards of HSBC Private Bank (UK) Limited, LSL Property Services PLC, the Brooks Macdonald Group and is Chair of Enra Group.

Doug van den Aardweg

Non-Executive Director

Doug van den Aardweg was appointed a Non-Executive Director on the Marks & Spencer Financial Services plc board in July 2015. Doug also serves on the Board of Marks and Spencer Unit Trust Management Limited.

Doug is a Chartered Accountant and was previously Director of Risk Advisory Services at PricewaterhouseCoopers where he worked across Banking & Capital Markets and Insurance & Investment Management.

Prior to this, Doug held the position of CFO at Old Mutual in Cape Town, working for both its property investment and development, and insurance companies. Doug and his family moved to the UK with Old Mutual in 1999 when the company listed on the FTSE. Doug went on to hold the position of Group Head of Risk, Audit & Compliance and then Group Audit Director.

Today, Doug is also Chairman of HSBC Life (UK) Limited, a position he has held since September 2014. In addition, he is advisor to the Board of Bioversity International, a Rome-based agricultural research organisation, and a member of its Finance & Audit Committee, Doug is also a Non-Executive Director of Daiwa Capital Markets Europe Limited.

Jim Coyle

Non-Executive Director

Jim Coyle was appointed a Non-Executive Director on the Marks & Spencer Financial Services plc Board in January 2016. Jim is also Chair of Marks and Spencer Unit Trust Management Limited.

Jim was formerly Group Financial Controller at Lloyds Banking Group and prior to this held the position of Divisional Finance Director, Group Operations. Jim also sat on the Lloyds Banking Group Scottish Executive Committee. Before joining Lloyds, Jim was Group Chief Accountant at Bank of Scotland.

Jim holds a degree in Law and Accountancy from Glasgow University and qualified as a chartered accountant with KPMG. He is a Fellow of the Chartered Institute of Bankers in Scotland and on the Council of the Institute of Chartered Accountants of Scotland.

Jim has served as a Non-Executive Director of HSBC Bank plc since August 2015. He was recently appointed to the Board of HSBC UK Bank plc, for which he is also the Chair of the Audit Committee. Jim holds Non-Executive Director positions at Honeycomb Investment Trust Plc, Scottish Water Holdings and World First UK Limited. He is also Chair of the Audit and Risk Committees of Scottish Water, Honeycomb and Worldfirst.