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OakNorth adds former PRA director to advisory board

Theo Osborn | 14:16 Tuesday 16th October 2018

OakNorth has appointed Martin Stewart as an independent adviser on its advisory board.

Martin has previously served as the director of banks, building societies and credit unions at the Bank of England.

He was also a member of the PRA’s executive team responsible for PRA regulatory policy.

He will join Lord (Adair) Turner, Lord (Francis) Maude and Nick Lee on the specialist bank’s advisory board.

Rishi Khosla, co-founder and CEO at OakNorth, said: “Our loans have already had a very significant impact on the UK economy, but Martin’s experience will help ensure we can continue building on this positive impact and supporting the SME community, despite potentially challenging economic conditions in the future. 

“He has an extensive track record in both business and regulation, and over the last decade, has played a central role in not only opening up competition in the UK banking sector – which has ultimately benefited consumers and SMEs across the country – but also dramatically improving corporate governance and regulatory best practice.”

Martin added: “SMEs are the economy’s job creators and wealth generators, and it is their success that will ultimately make or break Britain’s move out of the EU next year. 

“Support for these businesses has been a passion throughout my career, where I have worked with businesses ranging from start-ups to major corporates, helping chairmen, CEOs and government ministers to identify emerging risks and opportunities and then building teams to turn strategy into action.”

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