Former watchdog set to chair Shawbrook

CHALLENGER bank Shawbrook has a new chairman in former Prudential Regulation Authority board member Iain Cornish (pictured), who replaces exRoyal Bank of Scotland chief executive Sir George Mathewson. Sir George oversaw the £725 million float of the bank in April. The shares, which floated at 290p, eased 4.65p to 369.75p.