The Co-operative Bank has created a role of managing director, SME banking and appointed a former CYBG chief to lead it.
Donald Kerr will join to the new role of managing director, SME Banking, as part of its bid to grow its presence in the business banking market. Kerr will join in early 2019 and report to Chief Executive Andrew Bester: the appointment is subject to regulatory approval.
Kerr joins from CYBG, where, as head of SME Banking since August 2016, he led on growing the group’s SME unit, and working on its digital products, including developing CYBG’s business case for the forthcoming Capability and Innovation Fund initiative.
Previously he held managing director roles at Lloyds Banking Group in Commercial Finance and SME Banking.
The appointment follows The Co-operative Bank’s announcement in early November that it will apply to the Incentivised Switching Scheme, which forms part of the RBS alternative remedies package, alongside considering its options within the Capability and Innovation Fund.
The Co-operative Bank currently looks after the banking needs of around 90,000 SMEs, 700 co-operatives, 5,000 charities, and 279 credit unions.
Chief Executive Andrew Bester said: “I am delighted that Donald has chosen to join The Co-operative Bank at this important point in our development. Our heritage in providing banking services to small and medium sized businesses together with our recognised strong service culture provides us with a great platform. We want to significantly build on that and drive greater competition in the market using the strength of our ethical brand which is the reason many of our 90,000 SME customers choose to bank with us.
“Donald’s experience in leading successful business banking operations, and insight into the challenges and opportunities SMEs currently face will be valuable as we increase our focus and build our position in this market and I look forward to working with him.”