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City Of London Group Plc LSE:CIN London Ordinary Share GB00BD9GS058 ORD 2P
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Media 7.1 -9.7 -24.5 - 62

City of London Group PLC Recognise Bank appoints Director of Strategy

18/01/2021 7:00am

RNS Non-Regulatory


City of London Group PLC

18 January 2021

18 January 2021

New SME bank Recognise appoints Director of Strategy

Recognise Bank has announced the appointment of Anita Maclean to join their executive team. Anita's role will focus on the development and execution of the Bank's future strategy. Anita will also work closely with the CEO, Jason Oakley and Deputy CEO, Bryce Glover on a range of key projects linked to the successful development of the Recognise franchise following the Bank's authorisation at the end of 2020.

Recognise, a subsidiary of AIM listed City of London Group plc, will offer financial services to the UK SME sector and the personal and business savings markets. It has recently commenced lending activities and is employing the latest technology to deliver a fast, efficient and flexible lending platform to business owners and entrepreneurs.

Anita has 28 years of experience in strategic leadership across Corporate and Commercial, Investment and digital start-up banking sectors. Anita joins from the digital SME-start up Revverbank, where she headed up operations for two years. Prior to her role at Revverbank, Anita was Chief Operating Officer at Santander Corporate and Commercial Bank, where she worked for 12 years.

Her experience also includes 14 years in investment banking in frontline advisory and capital markets roles at BNP Paribas, Deutsche Bank and Baring Brothers - as well as entrepreneurial roles - founding , developing and successfully selling a number of SME businesses.

On her appointment, Anita commented, "I am thrilled to join Recognise, a customer-centric challenger bank that genuinely values and recognises SMEs. More than ever, this is a pivotal time for entrepreneurs, and I look forward to developing the bank's strategy alongside a highly experienced team with a clear and unique vision."

Bryce Glover, Deputy CEO of Recognise said, "We are delighted to welcome Anita to our team, whose extensive sector knowledge and experience will help drive Recognise's future strategy forward. In addition to her banking knowledge, Anita's entrepreneurial mindset-a key component of the bank's DNA-will be a great asset for Recognise."

Recognise's founding ethos - and the reason for the bank's name - is to focus on the SME community that has been so overlooked and neglected by mainstream banking. The bank will offers a relationship-led proposition delivered through dedicated Relationship Managers (RMs) based in London, Midlands, Manchester, and Leeds. The Relationship Managers will meet each client and provide a responsive and personalised service. Each RM will have deep knowledge of industry sectors and a genuine appreciation for SME challenges, particularly in the current economic climate.


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About Recognise Bank Limited

Recognise Bank was formed to provide financial services to the UK SME sector and the retail and business deposits market. It will target an underserved but growing business customer market offering a relationship-led, digitally enabled proposition.

The bank's efficient technology-driven operating base partners with leading fintech platforms to create a market leading SME service using the best in class technology. Recognise has a strong independent Board and executive team to support an ambitious executive team with over 280 years' experience of building SME banking portfolios. In five years' time it aims to reach 54,000 depositors and 5,100 borrowers. Recognise is a subsidiary of the City of London Group.

About City of London Group

City of London Group (AIM: CIN), is a forward-thinking organisation focused on serving the UK SME market, predominantly focused on lending to the SME market through its subsidiary, Recognise Bank.

In 2020, the Company raised GBP27 million to launch Recognise Bank which received AwR in November. The Board and leadership team have extensive experience in the financial services arena and expect to receive full authorisation for Recognise later in 2021.

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