Bank of London Announces New Leadership and Board to Strengthen Governance and Oversight

London, 05 December 2024 –

Bank of London announces new Leadership and Board to strengthen Governance and Oversight

Bank of London is pleased to announce a series of new appointments to its UK Bank Board, reflecting its ongoing commitment to strong governance, thoughtful leadership, and sustainable growth within the financial services sector. All new appointments are subject to regulatory approval.

The new Directors are:

Catherine Brown, Chair

Catherine Brown brings extensive financial services board leadership experience from her current roles as Senior Independent Director at Metro Bank Holdings plc and Senior Independent Director at QBE UK Ltd, together with her previous executive experience as Group Strategy Director at Lloyds Banking Group and Executive Director, HR of the Bank of England. She also serves as a Non-Executive Director of FNZ (UK) Ltd. She has previously been Chair of Additive Flow Ltd and served as a Non-Executive Director of the Cabinet Office Board for the UK Government. As Chair, Catherine will guide the Board with her deep expertise of governance and commercial strategy, helping to shape Bank of London’s future.

Simon Walker – Chair of the Board Risk Committee

Simon Walker is a highly experienced leader in risk management, regulatory compliance, and governance, with over 40 years of experience in financial services. A Chartered Accountant and former KPMG partner, Simon is Chair of the risk committee for OSB Group plc, the FTSE 250 bank, is Chair of H&T Group plc, and sits on the board of The Bureau of Investigative Journalists. Simon’s expertise will help Bank of London further enhance its risk management framework, ensuring the Bank operates with both diligence and resilience.

Mark Carawan – Chair of the Audit Committee

Mark Carawan, a valued existing Board member who joined the Bank in 2022, has agreed to continue his role as Audit Chair. As a Chartered Accountant and Chartered Internal Auditor, and with a wealth of experience, including roles as Chief Compliance Officer at Citigroup and Group Chief Audit Officer at Barclays, Mark brings exceptional insight into compliance and governance, helping to strengthen the Bank’s operational foundation.

Monique Melis – Independent Non-Executive Director (NED)

Monique Melis brings over 20 years of experience in regulatory compliance and investigations as Global Head of Financial Services Regulation and Compliance at Kroll. Her thoughtful approach to governance and commercial strategy will help ensure Bank of London remains aligned with both its values and its vision. Monique was previously a Director of Bank of London from 2021 until July this year. She now rejoins this Bank, alongside the other new directors, to continue her support for the business.

Alongside these changes, David Skillen, Bank of London’s current UK Chair, has agreed to step down. Bank of London extends its sincere gratitude to David for his leadership and dedication throughout the bank’s formation and early growth.

Catherine Brown said:

‍“I am delighted to be joining The Bank of London as Chair as the bank embarks on the next phase of its growth to bring innovative technology-led payments solutions to British businesses.”

Mark Tluszcz, Chief Executive of Mangrove Capital Partners, said:

‍“These appointments demonstrate the commitment we, and the other investors that form the Mangrove-led new ownership group, have made to the Bank of London. They underscore the priority we place on strong governance and oversight. Having raised £52m since August, we firmly believe that The Bank of London has an excellent future ahead under its new leadership and new ownership.”

These appointments underscore Bank of London’s focus on strong governance and measured growth and its ongoing dedication to serving its clients and stakeholders with integrity and care. By strengthening its Board with these senior financial professionals, the Bank is laying the foundations for the next stage in its development.

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For further information, please contact:

H/Advisors Maitland +44 (207) 379 5151

Neil Bennett

Sam Cartwright

About Bank of London

A Safer Model for Business Banking Bank of London operates a distinct business model. Unlike traditional banks, it does not lend, invest, or leverage deposits. Instead, all deposits are held in full at the Bank of England, ensuring they are always available on demand. This eliminates the risk of ‘bank runs,’ offering businesses a safer, more secure banking alternative.Along with its safe deposit model, Bank of London offers a comprehensive suite of services, including:Deposit-as-a-Service (DaaS) - with all client funds held with the Bank of England.

Embedded Banking – allowing clients to provide banking solutions to their customers.Clearing, Payments, and Settlement for real-time solutions for regulated institutions.

Commercial Banking - payment and cash management tailored to business needs.Innovation Powered by Proprietary Technology Bank of London’s growth is driven by its proprietary technology and portfolio of patents. In collaboration with SAP Fioneer, the bank has developed a state-of-the-art platform for real-time clearing, payments, and settlement. These innovations support key services like Deposit-as-a-Service and Embedded Banking, positioning Bank of London as a leader in financial innovation.

Bank of London is authorised by the Bank of England’s Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.