Louis Taylor to stand down as British Business Bank CEO after leading a four year transformation of the Bank
Louis Taylor is stepping down as chief executive of the British Business Bank at the end of September 2026 after four years leading the transformation of the UK’s economic development bank. Louis will remain as Chair of BBB Investment Services Limited, the Bank’s regulated third-party arm, which provides investment services to clients until the end of December 2026.
David Hourican, the Bank’s chief financial officer will take on the role of interim CEO from 1 October 2026, ensuring a smooth transition. David was appointed in December 2022 and has extensive experience in financial services in the UK and internationally, as well as with the Bank.
A transformed Bank
Under Louis’ leadership, the British Business Bank has become bigger, bolder and more effective. He secured a landmark mandate from government backed by £25.6bn in increased financial capacity and introduced an ambitious five-year strategy to drive UK growth. Internally, he simplified its processes and put in place specialist investment and banking leadership. The Bank is well placed to nurture and champion the UK’s smaller businesses and high growth companies.
A vision and strategy for the Bank
Louis was appointed in October 2022 to lead the Bank out of the pandemic era, setting a bold new vision and an ambitious strategy to increase growth and prosperity by helping smaller businesses get the finance they need to start, scale and stay in the UK. The Bank’s focus now moves to the next phase of executing the Five-year Strategic Plan agreed in November 2025.
Simplifying the Bank and mobilising institutional capital
The Bank has been restructured and simplified from more than 20 individual programmes into a Banking business and Investment business, led by a chief banking officer and chief investment officer. The British Growth Partnership has also been established which recently reached its £200m Fund I first close, demonstrating landmark progress in driving venture capital allocations from Mansion House Accord signatories.
Financial reforms and capacity
Under a newly agreed set of financial reforms the Bank has an increased permanent financial capacity of £25.6bn, with greater flexibility to re-invest returns over the long term, catalysing more capital into UK companies and actively helping to deliver growth in the government’s eight industrial strategy sectors.
Bigger and bolder investments delivered by the Investment business
With substantially higher delegated limits to invest in the most innovative UK companies, the Bank is increasing the size of investments, demonstrated by recent cornerstone fund commitments of $100m to SV Health Investors’ SV8 Biotech, £100m to Apposite Healthcare Growth I and £150m to Playground Global, as well as direct investments of £40m into Quantum Motion and £100m into Oxford Quantum Circuits. The Bank is the largest investor in UK venture and venture capital funds, catalysing private sector money alongside its investments.
An evolving and impactful Banking business
The Banking business has broadened its range of critical lending products, including through the introduction of the Growth Guarantee Scheme, a focus on community businesses through the Community ENABLE Funding programme, and the expansion of Start Up Loans. Successful management of the Covid loan guarantee schemes has seen a reduction in outstanding balances to under £8bn from an original book of £87bn, and three independent evaluations have demonstrated the schemes’ value for money.
To build on those successes, the Board recognises that there remains more to do.
Off the back of a fresh mandate and a new concierge service announced during London Tech Week, there is a clear direction for the Bank to go further and be bolder to support UK businesses to stay, scale and thrive.
From sole traders to frontier industry businesses ready to list on the stock exchange, the work of the Bank impacts firms of all sizes and has never been more critical to the government’s aims to aim higher and bolder to charge up economic growth.
The organisation is entering an important next phase, with a continued focus on delivery, execution and ensuring that the benefits of the strategy are felt increasingly by all stakeholders. Louis’ leadership has established the solid platform for that next phase, and the Board is committed to maintaining momentum and building on that work.
Stephen Welton, chair, British Business Bank said: “Louis has been an outstanding leader of the British Business Bank, taking the Bank from the role of market participant at the end of the pandemic to more of a market leading position today with a platform that can deliver at scale going forward. As we enter our new five-year planning cycle, the increased financial capacity, greater financial freedoms and flexibilities that Louis has secured, and ongoing momentum leave a strong legacy. This puts the Bank in a stronger position to continue to evolve and deliver on the ambitions we set out in our Five-year Strategic Plan and the government’s growth mission.”
Louis Taylor, CEO, British Business Bank said: “It has been a huge privilege to lead the British Business Bank over the last four years by setting a clear and ambitious vision. The Bank now has a comprehensive strategy to deliver that vision, increased flexible financial resources, a simplified operating model, a highly capable team and a customer focused culture. It is a far more agile and effective organisation.
“I am proud of the team of professionals I have worked with and the capability we have built, which provides my successor with more firepower and the opportunity to execute the Bank’s Five-year Strategic Plan at a crucial moment for the UK’s smaller and most innovative businesses.”
Peter Kyle, secretary of state for business and trade said: “Louis Taylor has been an outstanding CEO of both the British Business Bank and UK Export Finance. His leadership has paved the way for countless businesses to hire more, boost wages and grow right across the UK.
“I would like to thank him for his bold vision during his 11 years of public service, and his continued commitment to backing UK economic growth.
“I am confident the next phase of the Bank will give UK innovators the bold backing they need to transform ambition into success.”