• Jules Peck

Some exciting news and updates

Updated: Sep 17, 2019

We are very pleased to say that progress to launching our regional community bank for Gloucestershire, Bristol, BANES and Wiltshire continues at a pace.

We have this month reached a significant milestone by starting our regular meetings with the PRA and FCA to begin our bank license application process. Our first meeting with the regulator gave us the chance to present our detailed business model and financials and the meeting went very well. We now look forward to presenting our full Regulatory Business Plan soon and then to moving into the ‘formal application’ process when the clock starts ticking to us being able to open the bank to the public.

In other major news we continue to successfully raise investment, with a number of new investors in recent weeks as well as some of our early investors coming back for more shares recently. As well as individual investors, as noted in this recent blog, we were very pleased to have significant investments from three Local Authorities, Wilts, Bristol and Stroud. We are also pleased that a number of the region’s Local Authorities are now collectively undertaking detailed due diligence around much more significant investments to help capitalise the bank in due course.

This investment flow has given us stable cash-flow forecasts enabling us to start to growth the team. Most importantly we are currently interviewing candidates for our CFO role – our first C-Suite recruitment. Our next such leadership role will be the recruitment of a CEO and we are interested to start conversations with potential candidates now. If you know of anyone with extensive retail banking experience and with the entrepreneurial drive to help build our bank please do suggest they contact us.

As well as our CFO role we are also recruiting an Executive Assistant/Project Manager and a Chief Marketing and Brand Director and again would be delighted to hear of anyone with those skills from the financial and ideally retail banking sector.

We are also on the look out for an additional board member with an accounting and banking background to Chair our Audit Committee and would love to hear about any potential candidates for that role.

This rapidly growing team will enable us to keep up momentum towards launching the bank and we will keep you updated on progress regularly.

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