Banking sector challenger TSB has appointed a commercial banking director as it looks to ramp up it business lending offering.
Richard Davies is due to take on the newly created role within the bank’s executive team by the end of 2017.
Davies is said to possess a “broad experience of building and leading commercial banking, with a particular passion for SMEs and digital innovation”. Prior to joining HSBC as chief operating officer for its UK commercial bank, he was chief executive of SME-focused challenger OakNorth.
TSB chief executive Paul Pester said: “There’s still plenty to do as we continue on our mission to bring more competition to UK banking and break the stranglehold that the big five banks have had on the market for far too long.
“The combination of Richard’s entrepreneurial flair seen at OakNorth, combined with his experience in leading commercial banking arms at HSBC and Barclays means he will be a real catalyst to develop TSB’s ambitions in this area.”