Charity Bank has announced that Edward Siegel (pictured above) will become its new chief executive .
Edward – who will join the ethical bank in July – will replace Patrick Crawford, who will retire and step down as chief executive after almost six years.
Edward will join from Big Issue Invest, the social investment arm of the Big Issue Group, where he has been managing director since 2008.
During that time, he grew the company's book of social enterprise loans from around £2m to a diverse array of social funds under management of over £65m.
At Charity Bank, Edward will lead the delivery of its strategy to continue to grow its loan book and present an ethical savings choice to a wider audience.
“I am delighted to be taking on this role during such an exciting phase of growth for the bank,” said Edward.
“Charity Bank has a well-earned reputation and one of the strongest brands in our sector.
“Its mission to use money for good was a key factor in my decision to pursue this opportunity.
“The bank's community of borrowers, savers, investors and its team are all working towards one goal – to help strengthen charities and social enterprises so that they can create lasting social change.”
Last month, Charity Bank announced that it had lent over £15.2m to the social sector in the first three months of 2018, more than any previous quarter in its history.
“Under Patrick's leadership, we have provided loans and support to hundreds of charities and social enterprises, touching the lives of more than one million people from across the UK,” said George Blunden, chairman at Charity Bank.
“As we move towards sustained profit, we are taking steps to extend our support and impact further.
“We believe Ed is the right person to lead Charity Bank as we enter this new phase and take action to address how we can best meet the future expectations and needs of the social sector.”
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