Allica Bank

Allica Bank Appoints Matthew Oakes as Head of Prudential Risk

Allica Bank, the UK based banking service provider that primarily deals in commercial mortgages for SME firms has revealed the addition of new senior level executive to its team. As per statement released by the bank, it has hired Mr. Matthew Oakes to serve in the role of its Head of Prudential Risk and the bank considers his addition to the team as a significant move given its high importance and efforts geared towards growth and expansion activities across UK. In his new role at the bank, Mr. Oakes will be responsible for monitoring developments within banking sector to ensure Allica bank can respond to any new challenges appropriately by taking advantage of its capital and liquidity capabilities judiciously and is also in charge of overseeing its prudential regulatory requirements ensuring that it is fully capable of any changes that regulatory landscape may throw at it in immediate and near future.

The newly appointed executive is a veteran with nearly thirteen years of experience in dealing with regulatory obligations across leading financial service providers in UK region. Before taking up his current role at Allica bank, he served as the Chief Financial Officer at Union Bank UK Plc for nearly two and a half years prior to which he served as regulatory policy manager at HSBC for another two and a half years. However, it should be noted that this was not his first rodeo with the multinational banking giant as he began his career in financial services industry serving in the same role in the same firm for four years and three months. He then moved on to TD where he served as regulatory reporting manager for two years and seven months and then served as Senior technical regulatory account at Standard Chartered Bank for 1 year and three months as per information in his LinkedIn profile.

Speaking about his new role at the bank, Matthew Oakes said “I am delighted to be working for a bank that is dedicated to helping small and medium-sized businesses to thrive. Small businesses are the lifeblood of the UK economy and, especially at a trying time like this, it’s crucial they get the support they need. Bringing my experience to help build a new bank, which has such a clear and distinct mission, is an exciting prospect for me. Allica Bank is breaking new ground and developing an unrivalled digital capability for brokers and small businesses that is built on modern technology and human relationships. It’s incredibly rewarding to be part of developing this proposition”.

Commenting about Matthew’s addition to the team, Mark Stephens – CEO of Allica Bank said “Matthew’s considerable experience, expert counsel and strong management will ensure that Allica Bank continues to expand in a rigorous and prudential manner. His addition to the team will bolster our growth efforts, meaning even more small and medium-sized businesses across the UK can benefit from our collaborative and innovative financial products, and local expertise”.