Joe McCaughran has announced his departure from IG Group to join ClearBank as the UK Chief Risk and Compliance Officer. McCaughran, who spent more than 14 years at IG Group where he most recently served as Group Chief Risk Officer, will now be part of ClearBank's Executive Committee in his new role.

ClearBank Appoints Joe McCaughran as UK Chief Risk and Compliance Officer

"It's a privilege to be part of a fast-growing, tech-driven organisation that places real emphasis on people, innovation, and doing things the right way," McCaughran, who joined IG as Compliance Manager in 2010, stated in his announcement.

The appointment comes as ClearBank continues to expand its presence in the UK banking services sector. The company, which provides clearing and banking infrastructure solutions, has been building its executive team to support its growth trajectory.

Just last month, on March 11, 2025, the company promoted Mark Fairless from Chief Financial Officer to Chief Executive Officer. Fairless, who joined ClearBank in January 2023, replaced co-founder Charles McManus, who stepped down from day-to-day operations to become a non-executive member of the Group Board.

As reported by FinanceMagnates.com, ClearBank secured a European Central Bank (ECB) license last year, enabling it to offer euro accounts and payments.

Extensive Risk and Compliance Background

McCaughran brings significant experience in financial risk management and regulatory compliance to his new role. Prior to serving as Group Chief Risk Officer at IG Group, he held several senior compliance positions within the organization, including Group Chief Compliance Officer from September 2015 to August 2017.

His career in financial services compliance spans nearly two decades, with previous roles at ODL Securities, Willis Towers Watson, and JLT Group. Throughout his career, McCaughran has developed expertise in areas including enterprise risk management, regulatory compliance, and operational risk.

"Looking forward to working with the talented team at ClearBank as we continue to build something exceptional," McCaughran added in his statement.

ClearBank, founded in 2015, offers clearing and banking infrastructure services to financial institutions and fintech companies. The company operates as a clearing bank, providing services that enable other financial institutions to offer banking products to their customers.

Neither ClearBank nor McCaughran provided additional details about specific initiatives or priorities for the risk and compliance function under his leadership.