The lender said that it was aiming to grow both intermediary and direct channels in Scotland, and it would providing lending facilities like commercial mortgages, owner occupied loans and residential and commercial investment.

Davidson previously worked at Bank of Scotland for over 16 years, most recently as broker development director for SME and mid corporate banking for around two years.

Prior to that he worked at Clydesdale Bank for around eight years, initially as an electronic banking manager and then as a business partner managing a portfolio of SME clients in north London.

Graham Ritchie, head of commercial mortgages at Aldermore, said: “We’re delighted to welcome Derek to the lending team. With his extensive experience in commercial banking, our Scottish growth plans will be in great hands.”

Davidson said: “I’m thrilled to be joining Aldermore at such an exciting time where there’s so much opportunity.

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“I’m looking forward to helping build on the existing expertise we have and focusing on higher value and more complex transactions, creating a very powerful offering to our marketplace in Scotland.”