Philip is currently a deputy chairman at Charter Court Financial Services Group.

He has also served as a NED at Leeds Building Society since 2011.

Subject to the granting of a banking licence, Recognise will offer financial services to the UK SME sector and the retail and business deposits market.

Philip’s appointment follows Recognise’s recent independent NED additions of Louise McCarthy, Richard Gabbertas and Simon Wainwright.

Michael Goldstein, CEO at City of London Group, said: “Philip’s proven leadership skills, breadth of experience, his track record of growing businesses and specifically his deep understanding of the regulatory environment and the banking authorisation process, are invaluable to the Recognise Board as we progress our SME banking licence application.

“He joins an executive team that has extensive experience of operating in the regulated banking sector and building SME banking portfolios.’’

Philip added: “I am looking forward to helping take Recognise to the next level on its journey to becoming a licensed bank.

“I have been very impressed with the quality of the Recognise team, their experience and insight into the SME banking sector and the compelling strategy they are driving forward.

“Having been on a successful journey with a similar organisation, I feel confident I can add real value to Recognise.”