ClearBank appoints ex-PayPal and WorldPay exec as new CPO

ClearBank has appointed Spiros Theodossiou as its new chief product officer.

Theodossiou joins the clearing back to lead global product strategy, and deliver innovation for the bank and its clients.

He brings more than 20 years of experience to the role and previously worked as CPO at cloud accounting platform Dext.

Prior to that he was SVP of product management at WorldPay and has had a number of executive roles at companies including PayPal and Vouchercodes.com.

“The growth opportunities, both in the UK and as ClearBank expands internationally, are phenomenal and I look forward to being a part of the bank’s journey, working closely with our clients to understand their needs, drive product innovation and help take our vision to new markets," Theodossiou said.

Theodossiou will create and execute the company’s roadmap as it embarks on international expansion plans.

“[Theodossiou] joins a team focused on challenging the global marketplace and providing high-performance products worldwide and will be key to the next chapter in ClearBank’s story,” ClearBank CEO Charles McManus said. 

Theodossiou joins former Barclays exec Mark Fairless who joined the bank from M&G to serve as chief financial officer. 

After reaching monthly profitability last October, the bank has since shared that it saw its net income more than double in 2022 to a record £58.3m, cutting its losses by 65 per cent.