November 2021 – New ‘Champion of the North’ GB Bank, focused on lending to underserved regions of the UK, has announced the appointment of Mike Says as Chief Financial Officer.
Mike will work from the bank’s headquarters in Middlesbrough and is responsible for GB Bank’s financial strategy and the bank’s commercial path to growth and profitability. He joins the GB Bank’s board which includes Chairman, Paul Rippon who co-founded Monzo and Starling Bank.
Prior to GB Bank, Mike worked as CEO for LQID, a digital bank start-up. Mike has over 30 years’ experience in financial services and banking both in senior Finance leadership roles at several established organisations and banking institutions including Harrods Bank, Lloyds Banking Group, and Citibank, along with start-up and business turnaround experience at Capital One and Newday.
GB Bank recently announced it had secured it’s provisional banking licence making it the UK’s newest challenger bank. Positioned as the ‘go to bank’ for property developers in the North, GB Bank will address the shortage of funding required to get Britain building again. It will be a dedicated lender to SME property developers, focusing initially on the North East, Yorkshire and the North West, and will support the levelling up agenda.
Sue Hayes, Chief Executive Officer, GB Bank said: “We are very pleased to welcome Mike to the GB Bank. He is a results-oriented leader with a proven track record in banking and financial services. As well as his impeccable finance credentials, Mike has considerable experience in setting and driving business strategies and driving shareholder growth. These qualities will be invaluable to GB Bank as we implement our strategy to build a bank offering greater access to finance and benefits for property development businesses across the North of England.”
Mike Says, Chief Financial Officer at GBB said: “I am delighted to have the opportunity to lead GB Bank’s Finance team. GB Bank will have an important role within the UK’s property finance and savings market, connecting customers with experienced relationship managers who have access to tailored financing solutions that will help them realise their potential and thrive.”
Mike’s appointment is subject to regulatory approval and GB Bank is expecting to fully launch during 2022.
For more information and to follow our journey please visit www.gbbank.co.uk
For further information please contact:
Caroline Marsden at Astute.Work
Tel: 07720 849189
About GB Bank
GB Bank is a new specialist bank that will bring much needed financial support to property developers in underserved regions, underpinned by an exciting savings proposition.
It was founded by brother and sister co-founders Stephen and Emma Black and technology entrepreneur Stephen Lancaster whose vision was to create a specialist bank targeting the provision of development finance in the UK regions.
Working alongside a highly experienced and professional Board, Executive Committee and Management team, GB Bank has successfully secured its UK banking licence (Authorised with restrictions or ‘AWR’), which means it has been authorised and regulated to trade with restrictions by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA). The bank’s senior team is led by Chair Paul Rippon, who co-founded Monzo and Starling.
There is a serious undersupply of housing in Britain. Alongside availability of land and planning permission, access to finance is a key driver of this.
GB Bank intends to get Britain building by providing bespoke development finance to property developers in underserved regions. It will also offer savings rates that the UK public will love. GB Bank is determined to be a powerful force and make a tangible impact in property development in the UK. GB Bank aims to play a key role in the government’s vision of levelling up the UK which will see greater investment in deprived areas – many of which are within GB Bank’s heartland of the North.
In 2020 GB Bank (then GBB) was delighted to announce it had secured £20 million investment from the Teesside Pension Fund (TPF). It has since secured a further commitment from the TPF of £28 million.
GB Bank, intends to get Britain building by providing property development loans of between £1 million and £5 million, supporting regional property developers, small and medium sized businesses, and construction companies across the North East, Yorkshire and North West. It aims to lend £3 billion over five years building a £1 billion plus balance sheet. It will fund almost 20,000 homes and several million square feet of office space, supporting the creation of over 100,000 jobs. For savers, competitive fixed rates will be protected by the Financial Services Compensation Scheme (FSCS).