TSB is set to appoint a former CEO of OakNorth as its new commercial banking director.
Richard Davies (pictured above) is set to join TSB at the end of 2017 – subject to regulatory approval – from HSBC, where one of his roles included chief operating officer for its UK commercial bank.
At TSB, Richard will spearhead the bank’s ramp up in business banking.
Prior to joining HSBC, Richard was the CEO of challenger bank OakNorth, where he led the process to design the business model, develop regulatory licence submissions and recruit the team to enter the UK banking market.
Richard said he cannot wait to join TSB as it prepares to launch the future of local banking for businesses in 2018.
“I’m looking forward to getting stuck in and see us take on the business banking market in the same way that TSB has already challenged consumer banking.
“The bank’s strategy and new technology platform – underpinned by its values and customer-centric approach – positions it really well to help customers with their business banking needs.”
Next year will see TSB focus more on helping more local businesses thrive in 2018 after bringing more competition to consumer banking customers.
Paul Pester, CEO of TSB, said that there was still plenty to do as it continued its mission to bring more competition to UK banking and break the stranglehold of the big five banks.
“We’re setting out to strengthen our support for local businesses that form the lifeblood of the UK economy – and bring much-needed competition to the business banking market from 2018.
“I’m delighted to welcome Richard to TSB as our new commercial banking director to make that happen.
“The combination of Richard’s entrepreneurial flair seen at OakNorth Bank combined with his experience in leading commercial banking arms at HSBC and Barclays means he will be a real catalyst to develop TSB’s ambitions in this area.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Masthaven teams up with Intrinsic Financial Services
Masthaven has announced a new partnership with Intrinsic Financial Services as the bank looks to enable more brokers to access its range of residential mortgages.
Cambridge & Counties refinances Oxfordshire nursery
Cambridge & Counties has refinanced an Oxfordshire nursery, which is creating 50% more places for local children.
How important are brokers in the specialist banking market?
Brokers are an important channel for newly launched banks, a number of industry professionals have claimed.
BFC Bank enters UK market
BFC Bank has launched into the UK banking market offering financial services to UK SMEs.
Liam Fox launches GREAT Innovation in Action Awards
International trade secretary Liam Fox has launched the GREAT Innovation in Action Awards to find the best partnerships between UK and Asia-Pacific companies.
Teachers Building Society names new board of directors chair
Teachers Building Society has named Julie Nicholson as the new chair of its board of directors.
Church of England introduces contactless payments
The Church of England has introduced contactless, virtual terminal and SMS mobile payments to over 16,000 churches, cathedrals and religious sites across England.
FIBA workshops to feature live deal room
The Financial Intermediary & Broker Association (FIBA) has announced that its upcoming regional workshops will give brokers the chance to interact with partner lenders in a live deal room.
Metro Bank to enter Scottish mortgage market
Metro Bank has announced that from 5th April it will be expanding its mortgage business into Scotland.
Do challenger banks need to collaborate on Open Banking?
Collaboration between challenger banks on Open Banking could be a powerful message to consumers and the established players, according to an expert at a recent event.