Mike steps up from chief operating officer, succeeding Gary Wilkinson. A 30-year veteran of the financial services industry, Mike joined Cambridge & Counties in 2012 during the year of its launch as a business bank.
Cambridge & Counties has been in continuous monthly profit since July 2013. Since its launch, the Bank has lent more than £220 million to small and medium sized businesses and reported a profit of more than £1 million for the first half of 2014.
Mike Kirsopp said: “The Bank and its staff are doing tremendous work in providing excellent products delivered with first class service to SMEs, supporting the important role they play in generating economic activity, investment and employment.”
“We will continue to grow the Bank by concentrating on being a ‘can do’ lender and a provider of straight-forward ways for businesses to borrow and save.”
Jointly owned by Trinity Hall, a College of the University of Cambridge and Cambridgeshire Local Government Pension Fund, Cambridge & Counties Bank expects profit in the second half of 2014 to more than double.
The Bank’s chairman Paul ffolkes Davis said: “It has been a great story so far, and the Bank has grown quickly and safely under Gary’s care. I and the Board offer him our grateful thanks, and good wishes for his future endeavours.”
Paul ffolkes Davis continued: “We are delighted to appoint Mike as the new chief executive officer for the next phase of the bank’s growth. Mike has an excellent understanding of both the business and the markets in which it operates. I and the Board are looking forward to working together with him on our strategy for growth over the coming years.”
Mike Kirsopp was a network director of Lloyds TSB’s Business Banking and then its Commercial Networks and was mid corporate real estate director of Bank of Scotland Corporate following the HBOS and Lloyds merger in 2008 until 2010.
Cambridge & Counties Bank Ltd is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under firm registration number 579415. Our authorisation can be checked at the Financial Services Register at www.fca.org.uk.
Cambridge & Counties Bank Ltd Registered Office: Charnwood Court, 5b New Walk, Leicester England, LE1 6TE. Registered in England and Wales No. 07972522.
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