Wyelands Bank strengthens its board and executive team
Wyelands Bank, set up to help medium-sized businesses, has appointed Stephen Rose as deputy chief executive officer and Rachelle Frewer as chief financial officer.
Stephen will focus on the bank’s operations to help it grow. He will ensure that the bank continues to meet the needs of both its depositors and business finance customers. Rachelle will focus on the financial performance of the bank. She will ensure services are scalable while increasing the bank’s asset base to help customers trade, grow and create jobs.
Their appointments are part of the bank’s strategy to help manufacturing and industrial businesses to unlock growth through simple but tailored business finance.
Wyelands Bank has grown in line with its strategy. Lending assets to April this year rose 44% to £434m, with total lending volumes through the last financial year approaching £1bn. Customers deposits increased to £726m to the end of April this year, up from £506m last year.
Stephen Rose, deputy CEO, Wyelands Bank, said: “Wyelands Bank plans to accelerate expansion this year as part of its commitment to help more industrial businesses to unlock growth. I’m looking forward to working with a dedicated team to help customers with innovative and tailored finance.”
Rachelle Frewer, CFO, Wyelands Bank, said: “We will support more businesses by ensuring we focus on what our customers need. I’m looking forward to working closely as part of the executive team to help drive growth and ensure the financial performance of the bank.”
Iain Hunter, CEO at Wyelands Bank, said: “As a bank, we get to know our customers, giving them direct access to decision makers to help them to trade, grow and create jobs. Stephen and Rachelle’s appointments are a very real demonstration of that commitment, complementing and strengthening our executive team.”
Stephen is a chartered accountant with nearly 30 years’ experience, working in senior finance and change roles across the banking, insurance, and asset finance sectors. He was most recently finance director of Bibby Financial Services and was previously finance director at Hitachi Capital and CFO for Aspen Insurance (UK) Stephen has been an approved board director in the UK, continental Europe, Australia and North America.
Rachelle has over 20 years’ financial sector experience gained in UK, Europe and Asia. She has held roles in finance, treasury, corporate affairs and risk in global financial institutions including Standard Chartered Bank and HSBC. Most recently Rachelle was deputy CFO at C. Hoare & Co and prior to that was finance director for the commercial division at Close Brothers. Rachelle qualified as a chartered accountant at KPMG.
