Redwood Bank has made two appointments to its board.
The new UK SME business bank, which recently secured its banking licence, has appointed David Buckley as Chairman (Non-Executive) and Nigel Boothroyd becomes a Non-Executive Director.
The appointments have been made as part of the bank’s ‘Mobilisation’ prior to launch later in the year.
Buckley (pictured above) holds a number of non-executive and advisory board positions and is currently Independent Non-Executive Director and Chair of the Audit Committee for CIBC World Markets plc. He was previously the lead Independent Non-Executive Director for Fullerton Health pte in Singapore. Prior to this, he was European CFO for Morgan Stanley, Chief Executive of Morgan Stanley Bank International and a member of its European Management Committee. Before joining Morgan Stanley, David was International Treasurer and European head of the Global Banking Group for Goldman Sachs.
Boothroyd has spent over 38 years at HSBC Group. He has held a number of senior roles in the UK, Europe and North America within corporate and commercial banking, credit risk, operational risk, retail banking and wealth management. Between 2012 and 2015 he was the National Head of Corporate Banking for HSBC Canada. His appointment as Non-Executive Director and intended Chairman of the bank’s Risk Committee, will be subject to obtaining regulatory approval.
Co-Founder and Non-Executive Director of Redwood Jonathan Rowland said: “We are delighted to have both David and Nigel on our Board. They have a wealth of relevant experience and have much to offer us as we look to launch and grow the bank.”
Co-Founder and Chief Executive of Redwood Gary Wilkinson added: “David and Nigel are very welcome additions to our experienced team, and will both have key roles to play in helping us reach our goals.”
Buckley said: “I’m delighted to become Chairman of Redwood Bank. There is huge change taking place in the UK SME banking sector, and now is exactly the right time to be launching a new proposition. With no legacy systems and the ability to develop competitive products, I am excited about our future.”
Boothroyd said: “The bank has ambitious plans and a strong team in place to deliver on these. I’m excited to be part of this and confident that we can bring a fresh, and more customer focused and efficient approach to SME banking.”