Pepper Money has announced a number of senior hires as it plans to establish a project to create a new entity to seek authorisation for a banking licence.
The lending division of Pepper (UK) Limited – which entered the UK mortgage market in 2015 – has revealed that it will be appointing John Maltby as non-executive chair, David Bowles as chief risk officer and Bob Golden as chief commercial officer, subject to regulatory approval.
All three have experience in the banking industry, with John previously serving as group commercial director at Lloyds Banking Group.
David has worked with a number of new challenger bank entrants, including Shawbrook and Monzo, while Bob has held board positions with Close Brothers.
Laurence Morey, CEO at Pepper Money, said the move was designed to further strengthen its ability to support those customers who were underserved by high street lenders.
“It will enable Pepper to expand the range of solutions we provide to our core customers – including people with complex incomes, the self-employed, those who fall outside high street credit scoring, first-time buyers and BTL landlords – as well as securing more diverse funding sources for the business in the form of retail deposit funding.
“We will also be considering targeted acquisitions to further the range of solutions we can provide for our customers as part of our growth plans.
“It’s an exciting time for Pepper as we look to convert our specialist lending platform into a leading specialist bank and I am delighted to welcome John, David and Bob to the firm.
“It’s a tribute to the strength of Pepper’s achievements that we have been able to attract such high-calibre individuals and I look forward to working with them all.”
The new hires will join the existing Pepper Money team of Laurence, Warren Justice, chief financial officer, Richard Spinks, chief operating officer, and Colin Snowdon, managing director.
“It’s been a privilege and pleasure to lead the growth of Pepper Money over the last two-and-a-half years, from its first steps through to its current leading position as a specialist lender, focused on the growing number of interesting customers,” said Colin.
“Our success has been down to a great team and to strong support from distributors, brokers, funders and our shareholders.
“Their backing has enabled us to build the foundations on which to build a strong bank.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
George Osborne optimistic that Open Banking will be ‘dramatic’ to industry
George Osborne has claimed that the big banks won’t necessarily look to move more quickly towards Open Banking as it represented a competitive threat to them...
Santander launches 'invisible cinema' experience to help tackle fraud
Santander has launched an ‘invisible cinema’ experience to teach under-25s about the importance of keeping financial information safe...
New CEO joins Buckinghamshire Building Society
Gerard O’Keeffe (pictured above) has started his role as the new CEO at Buckinghamshire Building Society...
STB Commercial Finance expands North West team
Secure Trust Bank (STB) Commercial Finance has appointed John Copping (pictured above) as regional sales director for the North West...
300 companies sign up to Women in Finance Charter
A total of 300 companies have now signed up to HM Treasury’s Women in Finance Charter....
Hanley Economic offers self-build product in Scotland
Hanley Economic Building Society has extended its self-build and residential mortgage offerings into Scotland with immediate effect...
Why it’s important to encourage female entrepreneurs
On Women’s Entrepreneurship Day, we honour women in business, their fearless ambition, their achievements and successes...
TSB names new CEO
The board of TSB Bank PLC – with the support of Sabadell – has announced that Debbie Crosbie (pictured above) will become its new CEO in 2019, subject to regulatory approval...
Tandem opens community beta testing for autosavings
Tandem has invited its existing app users to join its autosavings beta testing community to help test its new proposition...
Secure Trust Bank enters Right to Buy market
Secure Trust Bank Mortgages (STB) has launched into the Right to Buy market with a range of mortgages for tenants looking to purchase their existing home...
Starling announces partnership with the Post Office
Starling Bank has announced that it has partnered with the Post Office as it looks to offer every day banking services to its customers...