Chetwood Bank has launched a new wholesale banking division to provide tailored funding products to corporate, institutional, and specialist lending customers.

The digital challenger bank announced the appointment of three senior executives to lead the new business unit.

Alex Grove will join as managing director of wholesale banking, while Toby Sharp has been appointed as director of commercial real estate and Nirvan Sunderam will take on the role of managing director of wholesale risk.

Prior to joining Chetwood Bank, Grove held senior positions at Intrum, BAWAG PSK, and Morgan Stanley. Sharp has previously worked in senior real estate finance and securitisation roles at Hamburg Commercial Bank, BAWAG PSK, and Credit Suisse, while Sunderam has held structuring and risk management positions at Bank of America, UBS, and Pemberton Capital Advisors.

Grove will join Chetwood Bank's executive committee and oversee the development of the wholesale banking division, which will provide funding solutions to corporate, institutional, and specialist lending customers. Sharp will report directly to Grove, while Sunderam will lead the division's second-line risk function and report to the bank's chief risk officer.

Chetwood bank said the wholesale banking division will focus on originating, structuring, and managing larger lending relationships, supporting strategic growth while making disciplined use of capital.

The bank added that has grown its balance sheet to £7 billion, funded primarily through retail deposits. It currently manages a £3 billion mortgage lending portfolio and lent £1 billion through active forward-flow relationships during the last financial year. The bank has also expanded into structured finance markets and non-sterling assets.

"This is an important step for our wholesale banking division, giving us leadership capability that reflects the scale of the opportunity ahead and the standards we set for how we operate," said Paul Nobel, chief executive of Chetwood Bank. "Alex, Toby and Nirvan bring experience across the areas that matter most to this part of the business, from structured finance and investment management to commercial real estate and risk, and I'm confident their expertise will strengthen how we evolve and build long-term relationships with institutional partners."

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