The Department for Business and Trade has announced the appointment of Stephen Welton as the new non-executive chair of the British Business Bank.
He takes over from Lord Smith of Kelvin, who has held the position at the UK government’s economic development bank for six years since 2017.
Welton was previously appointed in 2013 as an advisor to the UK government about the establishment of the British Business Bank, which was founded in 2014.
He was also founder and chief executive of the Business Growth Fund (BGF) from 2011 to 2020 and has experience as an investor in private capital markets around the world.
Commenting on the news small business minister Kevin Hollinrake said: “I am delighted to welcome Stephen to his new role. With his wealth of experience in investment and passion for driving entrepreneurship, I know he’ll deliver leadership at the British Business Bank on their mission to boost and scale up the UK’s SMEs.”
Last month the British Business Bank announced a loss of £135.3 million. The bank’s chief executive Louis Taylor said that an expected drop in valuations across its portfolio had driven the loss.
Latest News
-
British financial sector optimism falls at fastest rate since 2022 amid Budget concerns
-
TransUnion to buy Monevo
-
Global banks to axe 200,000 jobs by 2030 as AI takes over human tasks, finds Bloomberg
-
Lloyd's of London chief executive officer Neal to step down in 2025
-
JPMorgan becomes final major Wall Street bank to exit climate alliance
-
Visa and Qashio partner on B2B travel payments solution
Sanctions evasion in an era of conflict: Optimising KYC and monitoring to tackle crime
The ongoing war in Ukraine and resulting sanctions on Russia, and the continuing geopolitical tensions have resulted in an unprecedented increase in parties added to sanctions lists.
Achieving operational resilience in the financial sector: Navigating DORA with confidence
Operational resilience has become crucial for financial institutions navigating today's digital landscape riddled with cyber risks and challenges. The EU's Digital Operational Resilience Act (DORA) provides a harmonised framework to address these complexities, but there are key factors that financial institutions must ensure they consider.
Legacy isn’t the enemy: what FSIs can do to keep their systems up and running
In this webinar we will examine some of the steps FSIs have already taken to rigorously monitor and test systems – both manually and with AI-powered automation – while satisfying the concerns of regulators and customers.
Optimising digital banking: Unifying communications for seamless CX
In the digital age, financial institutions risk falling behind their rivals if they fail to unite fragmented communications ecosystems to deliver seamless, personalised customer experiences.
This FStech webinar sponsored by Precisely explores vital strategies to optimise cross-channel messaging through omnichannel orchestration and real-time customer data access.
This FStech webinar sponsored by Precisely explores vital strategies to optimise cross-channel messaging through omnichannel orchestration and real-time customer data access.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories