CivilisedBank, which is placing itself as a digital SME bank with relationship managers, has made an appointment to its board of a non-executive director.
Rajan Kapoor will also serve as chair of its audit committee as well as its remuneration committee. He was previously financial controller of the RBS Group and held a number of senior finance positions in a 28-year career with the bank. Kapoor has also been a non-executive director of Charter Court Financial Services since 2016. His latest appointment comes ahead of CivilisedBank’s expected launch in 2019.
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Mark Stephens, chief executive officer of CivilisedBank, said: “Rajan has extensive experience of finance gained at leading UK financial institutions and he will be a great addition to the board. CivilisedBank will be unique in providing business specific service excellence from a dependable bank operating on the best of technology, and Rajan’s finance and internal controls expertise will be crucial as we finalise our build phase and prepare for launch.”
Kapoor said: “CivilisedBank has a unique offering which, following its launch in 2019, is set to make banking better for the SME market, and I am delighted to be joining the board. The offer that the bank will provide to SMEs will be truly unique within the current market and I intend to bring my finance experience and knowledge to the board to support the bank with all necessary financial and regulatory preparations ahead of launch.”
Focused on the UK SME market and funded by SME and retail savings, CivilisedBank is intended to serve businesses through working capital solutions and cash management, including loans, asset finance, savings and payment services. CivilisedBank will also address the UK retail market with a range of savings products.
The appointment of Kapoor is the lastest of a wide number of appointments for CivilisedBank, including the hire of Nick Baker as head of intermediaries announced at the start of November.
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