The former banker who has always had his eye on retail can’t wait to get stuck into his new role as boss of Shop Direct.

Alex Baldock

RBS-owned Lombard managing director Alex Baldock is swapping finance for fashion after last week signing up to become the new boss of online giant Shop Direct, where he starts in September.

Although eyebrows might have been raised that the Littlewoods owner picked a banker to take over from incumbent Mark Newton-Jones – an experienced retailer with more than 25 years in the sector under his belt – retail has always been high on the agenda for Baldock.

“I’ve always had a fascination

with this industry,” says Baldock. “There’s a certain amount of retail in my family too. My wife was a designer with Mulberry and my father [Brian Baldock] was chairman of Marks & Spencer.”

It’s not just Baldock’s bloodline that makes him a well-considered choice for Shop Direct – before going into banking he worked as a consultant advising firms such as House of Fraser, Marks & Spencer and Vodafone.

Baldock looks like a safe pair of hands to pass the Shop Direct business on to. A perennial over-achiever – he attained a double first from Oxford University and a MBA from Harvard – Baldock is a man who strives for success.

“I like winning and always have done, from playing monopoly as a child to football or cricket. I tend to seek out challenges and like being tested,” he says. “Working at RBS for the past four years has certainly been interesting, but I think being tested makes you a stronger leader.”

Despite his youth, 41-year-old Baldock has experience of running companies big and small, in particular complex businesses as evidenced by his time at Lombard. With its many brands and merged business, Shop Direct could benefit from his expertise.

And it looks like Baldock could be the leader to help the home shopping group finally break into profit. Newton-Jones has done a good job of unifying the home shopping business, which was formed after arch-enemies Littlewoods and GUS Home Shopping merged, however it hasn’t made a profit for the past five years.

“It’s on the right trajectory,” says Baldock. “It’s moving towards profitability and I have a track record of growing profitable businesses.”

With his nose to the grindstone, Baldock rarely switches off, a trait which he attributes to his father. He says: “My dad was a massive over-achiever. He came from a modest, working-class background in South London and ended up as chairman of Marks & Spencer.

“Work is a massive part of my life. I don’t get much sleep, much to my wife’s annoyance. I have a strong work ethic and look for that trait in others.”

Inevitably Baldock is impatient to get started on the task ahead. “I just want to be there now,” he says.

He and his family, which includes four under eight year olds, are preparing for the big move to the Northwest, familiar territory for Baldock whose mother hails from Merseyside.

He says: “I’ve spent a lot of time up there including many unhappy visits to Anfield as a Chelsea fan.”

Ardent Blues fan Baldock insists he will not be changing allegiances when he moves up North and will be keeping hold of his Chelsea season ticket.

Sport takes up what little spare time workaholic Baldock has. When he is not following his beloved Chelsea, he’s watching a Harlequins’ scrum or being bowled over at The Oval.

It’s not just watching sport Baldock is keen on, he also enjoys competing too. Much like current Shop Direct boss Newton-Jones, he is a keen runner and completes a half-marathon every fortnight. He even has his sights set on climbing Mount Kilimanjaro in Africa.

Bringing Shop Direct into the black should be a doddle by comparison.

Career history

2008 to present Lombard, managing director

2005 to 2008 Barclays Bank, corporate director

2002 to 2005 Prophet (Consulting), director

1999 to 2000 BBC, senior adviser, corporate strategy

1998 to 1999 Bain & Company, consultant