- Leadership team led by SME Banking Director, Richard Davies, with eight of the eleven leadership roles held by women.
- Bank gets set to launch leading business banking proposition later this year.
- New research shows that small businesses are fuelling their local economies with 90% actively supporting their local area.
Today TSB has unveiled its SME Banking leadership team to make banking better for small businesses and entrepreneurs right across the UK. This follows TSB Executive Chairman Richard Meddings’ announcement that the launch of a leading business banking offer is a top priority for TSB in the coming months.
Richard Davies, TSB’s SME Banking Director, takes responsibility for products, distribution and servicing of the Bank’s existing business customers, building on his work since joining TSB at the start of this year in developing the Bank’s future commercial proposition.
A multi-million pound investment programme is already underway to build new banking services for small businesses, to launch later this year. TSB’s SME banking plans also include bidding for a grant from the Capability and Innovation Fund and participation in the Incentivised Switching Scheme, announced by the UK Government and designed to boost competition in the business banking market.
(See notes to editors for leadership team members and roles.)
Building a diverse and balanced SME bank
At the heart of the team’s development has been a commitment to building a bank which values diversity and lives and breathes an inclusive culture that reflects the communities it serves – including a fair representation of men and women at every level and in every part of the bank. TSB believes it’s not just the right thing to do; it’s fundamentally good business sense.
Of the 11-strong SME Banking leadership team, eight of these roles will be held by women.
Richard Davies, TSB’s SME Banking Director, says: “In recent months we’ve been investing in a new SME leadership team to develop our new business banking offer. Their combination of deep business banking experience and entrepreneurial spirit will be a real catalyst to develop TSB’s ambitions to help more local business and local communities thrive.
“I’m delighted at the strength of the team we have recruited. This is also the only diverse leadership team in SME banking in the UK and I’m really excited to be working with them.”
Small businesses leading the way to fuel local economies
A new report by peak b, the campaigning organisation for small business, supported by TSB and Indeed, has found that over a third of small businesses (38%) are not driven by profit, and an overwhelming number are playing a hugely active role in local communities.
In a survey of over a thousand small businesses, the majority (90%) felt they have a role to play in supporting community organisations. Over three-quarters (77%) of small businesses actively support local organisations – including charities, schools and foodbanks – despite the everyday challenges that founders face running their own businesses.
In a trend that shows the people-led approach of the sector, more than seven in 10 (78%) of small businesses create training opportunities for their staff, with a quarter (28%) offering this for the wider community as well. Furthermore, 70% of small businesses offer flexible working opportunities.
Richard Davies says: “This is the first research to look at the social value of local businesses on communities, which we believe is critical to recognise alongside the much-needed focus on helping improve business productivity.”
Notes to editors
Read peak b’s Small Business Community Impact report here: peakb.uk/sbci
TSB’s SME Banking Leadership Team:
Richard Davies, SME Banking Director
Richard Davies has broad experience of building and leading commercial banking, with a particular passion for SMEs and digital innovation. Richard was previously Chief Operating Officer for the UK Commercial Bank at HSBC. Prior to joining HSBC, Richard was CEO of SME focused challenger bank OakNorth. Richard is an active investor and advisor in European fintech, including German SME fintech Penta.
Niv Subramanian, Customer Solutions
Niv brings a combination of experience across strategic, commercial and operational roles across Retail, Commercial and Corporate Banking, with a keen focus on transforming the SME banking market. She joins TSB from HSBC Commercial Bank where she led Global Lending Product Management, alongside their digital SME bank development, and has previously worked at Barclays and GE Capital.
Janet Adams, Risk & Controls and Artificial Intelligence
Janet is a senior risk professional with strong knowledge of artificial intelligence and robotics. She has a successful track record of driving transformational change across financial services with a focus on business banking, having spent time at HSBC, RBS and Aviva.
Amanda Bell, Branch Proposition and Service Improvement
Amanda has worked in financial services for over 30 years: establishing her career in RBS Group and more recently in TSB encompassing a variety of leadership roles in both business banking, retail and project management. She was behind the delivery of TSB’s recent partnership with Enterprise Nation.
Derek Vennard, Business Banking Centre
Derek has headed up the Bank’s Business Banking Centre in Edinburgh since 2015. Prior to this he was an Area Director for both TSB and Lloyds Banking Group.
Faye Armitage, Relationship Management
Faye started her career in banking as a Personal Account Manager, and went on to later become an Area Director managing the largest retail team within TSB. After time heading up the Bank’s Learning Design and Delivery nationally, Faye has taken on responsibility for the growing team of Business Banking Relationship Managers at TSB.
Charisma Borkakoty, Credit Risk
Charisma joins from Barclays where she spent four years leading the credit risk portfolio for business banking. Her previous experience includes time with CitiGroup USA, RBS USA, Santander UK, and American Express in India and the USA.
Yenny Otero, Experience Design
Yenny has been working in Experience Design for more than 16 years, and joined TSB with a strategic design background from Designit, working with projects such as bank Pepper in Israel, Telenor in Scandinavia and South East Asia, and Amplifon, a hearing aid service provider in more than 22 countries.
Adeel Hyder, Strategy
Adeel brings a range of experience across strategy, operations and organisational design in UK banking. Prior to joining TSB/Sabadell, Adeel was a strategy consultant at McKinsey & Company in the UK helping clients define challenger and SME banking strategy. Before consulting, he was a corporate banking originator and portfolio manager.
Genevieve Kangurs, Mobile
Genevieve joined TSB in 2016 to lead the Bank’s mobile programme – including the launch of TSB’s new mobile app for retail customers. She previously spent 10 years working in a number of roles across Barclays.
Jo Newman, Marketing
Jo has over 20 years of experience in marketing and joined TSB’s Marketing team in 2015. Prior to this Jo headed up campaign management at AXA, and previously worked for a number of marketing agencies.