The British Business Bank has appointed Louis Taylor as its new chief executive.
Mr Taylor, who will take up the role in October at the UK Government's economic development bank, is currently CEO of UK Export Finance- the Westminster government's export credit agency.
He will takeover from Rhondda-born Catherine Lewis La Torre at the helm of the bank which has a UK-wide lending remit, both debt and equity, to support the growth of SMEs.
Before joining UK Export Finance in 2015, Mr Taylor had a career in banking and corporate finance, most recently with Standard Chartered Bank where he held positions as chief operating officer for group treasury and also as chief executive, Vietnam, Laos and Cambodia.
His early career included eight years in investment banking for JP Morgan and seven years running strategy and acquisitions for Cookson Group plc and Invensys. He was educated at Royal Grammar School, in Newcastle, and Cambridge University.
He said: “I am delighted to have the opportunity to lead the British Business Bank, with its well-established support for smaller businesses to start, grow and develop, as well as its important role as the UK’s economic development bank. Continuing to deliver on the government’s agenda for levelling up and driving towards net zero is an exciting prospect that I look forward to addressing with the Bank’s talented team.”
Lord Smith of Kelvin, chair, British Business Bank said: “Louis is a highly respected, strategic leader, with more than 30 years’ banking and corporate finance experience and a strong track record of success. He has successfully led UK Export Finance for more than six years and has made a considerable contribution to the agency since he joined in 2015.
" I am delighted that he has agreed to take on the role of CEO and look forward to working with him as we support the UK’s economic recovery through the bank’s debt and equity programmes, launch the next generation of regional funds, and also continue to address fraud and financial crime in relation to the Covid-19 loan schemes.”
Last year Chancellor Rishi Sunak confirmed that specific funds were being set up to back firms in Wales, Scotland and Northern Ireland.
However, there aren't yet details on the scope of the fund and whether any appointed fund managers would be required to provide matchfunding.
On the departing chief executive Lord Smith said: “I want to thank Catherine for the commitment and dedication she has given to the role of Interim chief executiver She has led the British Business Bank through a period of unprecedented growth and public scrutiny over the past two years. I am working closely with Catherine to define her future role and am delighted that she intends to stay with the bank.”
