The Co-operative Bank appoints Donald Kerr as Managing Director, SME Banking
28 November 2018
The Co-operative Bank today announces the appointment of Donald Kerr to the new role of Managing Director, SME Banking, as part of its bid to significantly grow its presence in the business banking market. The appointment is subject to regulatory approval.
Kerr joins from CYBG, where, as Head of SME Banking since August 2016, he has led on growing the group’s SME capability, delivering key digital improvements and he was responsible for developing CYBG’s business case for the forthcoming Capability and Innovation Fund initiative. Previously he spearheaded a phase of growth at Lloyds Banking Group, where he held Managing Director roles 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. Kerr will join in early 2019 and report to Chief Executive Andrew Bester.
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. The Co-operative Bank offers three business accounts, all of which are rated Five Stars by Moneyfacts. The Business Directplus Account offers 18 months of free banking to eligible customers, and the award winning Community Directplus Account offers free banking services to eligible registered charities, credit unions and community interest companies. The Co-operative Bank also has a unique partnership with the Federation of Small Businesses (FSB), the UK’s largest membership body and voice of SMEs and offers a bespoke FSB Business Banking Account. In addition, The Co-operative Bank partnered with Co-operatives UK in February 2016 to form ‘The Hive’, the first co-operative development programme of its kind in the UK, which provides new business support for people looking to start or grow co-operative or community enterprises, using a mix of online resources, training and advice.
Chief Executive Andrew Bester commented,
“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.”
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Lesley McPherson, Director of Communications – 07725 903270
David Masters, Lansons – 07825 427514
About The Co-operative Bank
The Co-operative Bank plc provides a full range of banking products and services to retail and SME customers and is committed to values and ethics in line with the principles of the co-operative movement.