City of London Group has appointed Richard Gabbertas (pictured above) as an independent non-executive director of its subsidiary Recognise Financial Services Ltd.
Richard — who will chair the audit committee — recently retired from KPMG, where he had served as a partner from 1995.
He will take up his role on 1st February.
Recognise is currently in the process of applying for a banking licence, with the team — led by Jason Oakley — planning to create a new SME bank.
Michael Goldstein, CEO at City of London Group, said: “We are determined to build a very strong board to support the creation of our new business bank.
“Richard has a fabulous understanding of the financial services sector, an extensive professional network and a first-class reputation.
“We are absolutely delighted to secure him for Recognise.”
Richard added: “I have been impressed by the quality of the Recognise team, their knowledge of the SME banking sector and the coherent strategy they intend to deliver.
“This is a great opportunity to play an important role in a market where new entrants are bringing welcome competition and choice.”
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