British Business Bank appoints co-chief banking officers

The British Business Bank has named Richard Bearman and Reinald de Monchy as co-chief banking officers to jointly lead its banking activities for smaller businesses.

This innovative structure emphasises the Bank’s commitment to enhancing its relationship-driven banking model, ensuring more streamlined support for institutional partners and smaller businesses.

Richard Bearman, who has been with the Bank since 2019, will head the newly integrated relationship management function, creating cohesive pathways across the Bank’s product offerings. With over 25 years of banking experience, including leading the Start Up Loans programme, Richard brings a wealth of expertise in small business lending.

He said: “Over my career I have developed a real passion for working with and supporting entrepreneurs.

“I am excited to be taking on this new role, which will enable us to build even stronger and more flexible relationships with our delivery partners.

“This will help them not only to navigate our offer more effectively, but also to find new opportunities to work with us to support the UK’s smaller businesses.”

Louis Taylor, chief executive officer of British Business Bank, added: “Richard has a wealth of experience in positions focused on serving the needs of smaller businesses, both at the British Business Bank and prior to joining the organisation.

“I am delighted he will be bringing that experience and expertise to this important new role at the Bank.”

Meanwhile, Reinald de Monchy will oversee product teams, focusing on delivering funding and capital solutions for small business lending and guarantee programmes. Having been with the Bank since its inception, Reinald is a seasoned expert in SME finance and securitisation.

He added: “The British Business Bank has a strong set of existing products and programmes serving the UK’s finance markets for smaller businesses.

“In taking on this new role, I am looking forward to working with teams across the Bank and market participants to develop our suite of products further, so that more UK smaller businesses can access the finance they need to grow and thrive.”

Louis added: Reinald has a considerable track record of managing the design and implementation of programmes that bring strong benefits to smaller UK businesses.

“During his time with the Bank, he has been responsible for the introduction of a number of creative solutions to weaknesses in the market, and I look forward to working with him so our product offering can provide even more benefit to businesses and the wider UK economy.”

The appointments come as the Bank continues to refine its approach to delivering impactful financial support to smaller businesses across the UK.

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