City of London Group PLC (COLG) has named Simon Wainwright (pictured above) as the first non-executive director for its subsidiary Recognise Financial Services.
Recognise is currently in the process of applying for a UK banking licence and Simon will help to build the business to provide financial services to the UK SME market.
Simon is currently the MD and COO for Europe, Middle East and Africa at global reinsurer RGA.
Prior to this role, he served in senior positions at HSBC, including CEO at HSBC Ireland.
He is also a non-executive director at National Counties Building Society.
Michael Goldstein, CEO at City of London Group, said: “We are delighted to welcome Simon on board at this important stage of our journey.
“He has hugely relevant executive experience across a range of high-quality organisations and a deep understanding of the regulatory environment.
“His input as we shape our new venture will be invaluable.”
Simon added: “This is a great opportunity to become involved with a genuinely exciting proposition to bring a credible new business bank – led by a very experienced team – to the UK market.
“The SME market is large and growing, but still painfully underserved, I hope to be able to use my skills to help Recognise successfully fill part of that gap.”
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