Recognise Bank hires bridging specialist
SME lender Recognise Bank has appointed experienced BDM Andrew Keehner as its latest relationship manager, with a specific focus on bridging finance.
Keehner joins Recognise Bank from specialist lender Catalyst Property Finance, but he has over 15 years’ experience in the sector, including roles with Cynergy Bank and United Trust Bank. He will be based at the Bank’s HQ in the City.
His expertise will be used to further develop the Bank’s bridging proposition alongside its commercial lending product range. In March Recognise topped £100 million in lending, just over six months after receiving its full banking licence in September 2021.
Speaking about his appointment, Keehner said: “Demand for bridging finance continues to grow as investors look for more flexibility, but I think some of the lenders and product offerings in the marketplace are lagging behind what customers are actually looking for.
“The opportunity with Recognise Bank is to reimagine bridging and short-term finance, in the same way they have with SME lending across the board. My initial focus will be to work with the team to fine tune our offering to ensure we have the right products and proposition to meet borrower needs, particularly in the current economic climate.”
James Meigh, director, business development for Recognise Bank, added: “Andrew is a great addition to our nationwide team of Relationship Managers. Not only does he bring experience of SME lending, which is important to the brokers and borrowers we work with, he also has a specific expertise in bridging, which we believe is an area that is growing rapidly.
“We have already demonstrated our innovative and flexible approach, working with customers to offer attractive term facilities linked to bridging loans where borrowers have developed a hold strategy for their properties. Now we want to see what else we can do to make our bridging proposition even better.”
Recognise Bank was created to provide SMEs with a digital bank offering a range of unregulated lending options via a network of relationship managers based in hubs around the UK. The Bank also offers personal savings accounts and business savings accounts. Six months after full authorisation the Bank hit a milestone of £100m in lending and has now attracted over £115m in savings deposits. Its last fundraise in May brought in £8.7 million in fresh capital.
