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.
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.”