If you cannot trust your high street bank, why not trust the grocer that has been providing your weekly shopping and more for the past 20 years? That is what Andrew Higginson, the finance director of Tesco, will propose when he embarks on a new role as chief executive of Tesco's retailing services, better known by the brand names Tesco Personal Finance, tesco.com and Tesco Telecom.

Tesco plans to more than double its profits from services, from £400 million last year to £1 billion, compared with the group's annual profits of £2.8 billion.

Although he does not have a jot of banking experience, Mr Higginson is the man entrusted with leading Tesco's assault on the beleaguered financial services sector. He has more than proved that he is up to the job in his 11 years as finance director for the retail giant and, in recent years, his strategic nous and involvement in breaking new markets have been reflected in the wider job title of group finance and strategy director.

Mr Higginson, 50, learnt his trade at Unilever as an internal auditor from 1980 to 1984. He then spent two years at Lever Brothers China as a commercial manager in Hong Kong. He worked at Guinness in the late 1980s as finance director, then at Laura Ashley as group finance director. Before moving to Tesco he worked at Burton, alongside Sir Stuart Rose, all of which makes him a retailer through and through. Non-executive directorships with First Group and BSkyB have cemented his consumer expertise.

Mr Higginson has played a big role in Tesco's ambitious forays into America and Asia. Former colleagues have said that he blends his financial skills with shrewd commercial awareness and is adept at dealing with people.

Born in Bury, Lancashire, Mr Higginson was educated at the local grammar school. He spent four years studying town planning at Birmingham Polytechnic, but changed tack after a year working as entertainment officer for the students' union. Booking bands such as the Specials, the Beat and the Tourists, which were considerably cheaper than the more mainstream Police, Sting et al, gave him a taste for business.

He travels extensively in his role with Tesco. When he is at home in the Chilterns, he likes to relax by spending time with his wife, June, and the family, taking walks or going on bicycle rides. He is also partial to watching sport on television for a few hours with a good glass of (Tesco) red wine.