Allica Bank, the UK based SME banking service provider revealed the appointment of Mr. Richard Davies as its Chief Executive Officer in its latest announcement.
In his new role at the firm, Richard will lead the bank’s efforts to scale up its operations as it aims to become one of the leading businesses in its vertical. This is a crucial time for the firm, and Richard will focus on delivering the funding and technology expertise needed as it pushes forward with its growth efforts.
The firm was established with the aim to empower small and medium-sized businesses helping them achieve their goals and succeed in the market. Having launched its services in 2017, the firm has provided tailor-made customer service for firms based across UK ranging from SME Banking & Business Banking to savings and business loans. The incoming executive is a veteran with more than two decades of experience in financial services particularly focused on banking and Fintech verticals.
During his career, he had served in some of the largest banks in the country and in several firms that had fast-paced growth, making him highly knowledgeable and experienced in operations pertaining to growth and scale-up of the financial services provider. He is currently serving as CEO of Revolut’s banking division, having held the role for 13 months. Prior to that, he served as Director of Commercial Banking at TSB Bank for one and a half years.
Some of his other notable roles include – COO/Global Head of Propositions & SME Digital at HSBC and board member at HSBC Equipment Finance Ltd, Non-Executive Director at Vizolution, CEO at OakNorth Bank, Head of Strategy/Head of UK/Global COO & Managing Director of Global Corporates at Barclays Corporate Banking. He had also held managerial & consultant roles at Lloyds TSB & LEK Consulting in the early phase of his career.
Richard replaces Mr. Mark Stephens as CEO following mark’s announcement earlier this year to retire from executive roles having remained for more than four decades in the UK banking sector. However, the mark will continue to hold non-executive and advisory roles to continue his efforts to support SME’s and remain in touch with the industry. Richard will take on his new role at the firm effective from 24.08.2020 but remain a part of Revolut and hold a role of non-executive advisor for its European business unit.
Speaking about his new role at Allica Bank, Richard said “The world as we know it is changing fast and it’s the companies who can blend innovative technology with real human expertise, who will thrive and add real value for their customers. It is for that reason I am delighted to be joining Allica Bank. I strongly believe we have the talent, experience, and commitment to supporting British businesses through these uncertain times.”
He further added, “Now, perhaps more than ever, is when financial institutions need to step up and be counted on behalf of the customers that need them. In my career I have worked for some of the largest established banks and fastest-growing challengers, I am excited to be continuing in that vein as I move from one of the most disruptive fintechs to the bank that I believe can transform business banking in the UK”.
Commenting on Richard’s appointment as CEO, John Maltby – Chairman of Allica Bank said, “It is with great pleasure that I am able to today announce the appointment of Richard Davies as CEO of Allica Bank. As a respected leader and innovator of business banking and fintech, Richard’s appointment is a testament to Allica Bank’s progress, since securing our banking license in September 2019. 2020 has certainly been a challenging year for British businesses, and everyone at Allica Bank has worked hard to support companies through these turbulent times. Since our launch, and throughout the Covid-19 period, Allica has continued to provide solutions at pace, resulting in a strong pipeline across the length and breadth of the country. Following on from our initial proposition, we have launched our fixed and notice savings accounts, with further products to support SMEs set to follow in the coming months. Allica is very well placed to support British businesses now and into the future, with the arrival of Richard adding further weight to our capability to be a leading SME bank”.
John also added, “We would also like to take this opportunity to place on record our thanks to Mark Stephens for all he has done in the last two years, and we wish both him and his family the very best in his retirement. In a career spanning more than 40 years, Mark has worked tirelessly to ensure small and medium businesses have access to the products and expertise they need, and this belief has been central to Mark’s approach in building and leading Allica Bank”.
