The ex-chief executive of grocery giant Tesco’s bank is to join the board of John Lewis Money as it seeks to strengthen its proposition, Retail Week can reveal.
Gerry Mallon has been named by John Lewis Partnership, owner of eponymous department stores and the Waitrose grocery business, as an independent director on the board of its financial services division, which generates spend of £1.5bn a year across John Lewis and Waitrose alone.
Mallon, who has worked for more than two decades in top financial services roles, spent six years in charge of Tesco Bank until 2025.
He joins John Lewis Money as it aims to build its presence in the financial services market, particularly since becoming an FCA-regulated insurance and credit broker earlier this year. Its services also include the John Lewis Partnership credit card and point-of-sale financing for customers.
The financial services business plays an important part in John Lewis’s overall retail operations by, for instance, drawing incremental spend by cardholders.
Mallon said: “John Lewis Money is a business with a strong reputation and a distinctive position in the market. It is built on values that matter deeply to customers – trust, service and quality – and that create a powerful platform for growth.
“I’m delighted to be joining the board at such an important point in its journey and look forward to working with the team to support the continued development and success of the business.”
John Lewis Money chair Jane Hanson CBE said: “I am delighted to welcome Gerry to the board of John Lewis Money at such an important time for the brand. He brings deep sector expertise and a strong understanding of how to build customer-focused financial services businesses. His insight will be hugely valuable as we continue to grow John Lewis Money.”
Jon Lewis Money serves 1.4 million customers.
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