App-only bank Tandem's CEO is stepping down and founder Ricky Knox is taking over

Ricky Knox, Tandem.TandemRicky Knox, Tandem.

LONDON — The CEO of app-only bank Tandem is retiring, with the company’s founder taking over the roll.

A filing with Companies House earlier this week shows that Peter Herbert, a veteran of GE Capital, is stepping down as a director. He joined Tandem in April 2015. Tandem confirmed Herbert’s departure to Business Insider over the phone, saying Herbert is retiring.

This story is developing, refresh for more information.

Learn more:

NOW WATCH: This is why Wall Street is able to stay one step ahead of federal investigations

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.