In his new role, Stephen — who is also co-founder of the bank and co-author of its regulatory business plan — takes responsibility for the strategic leadership and direction of the company, and will be focused on its mobilisation and fundraising, alongside people, financial and risk management.

He has over 30 years of multi-industry and cross-sector experience, with particular expertise in fintech, building start-ups, business strategy, technology and programme delivery.

Prior to this, he was CEO at Cascade Cash Management.

Commenting on his appointment, Stephen said: “Having helped develop the concept for GB Bank and worked with the fantastic team here throughout, it’s a privilege to formally take up the position of CEO to make our vision a reality.

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“We are steadfastly committed to delivering on our purpose, which is to take property development finance to where it’s needed most and it’s great to see this goal gathering traction as we move ever closer to being fully operational.”

Paul Rippon, non-executive chairman at GB Bank, added: “Steve is a visionary, dedicated and well-respected member of the team with a proven track record and whose appointment has been welcomed by us all for the strong leadership, consistency, and values he brings. 

“He is passionate about making a tangible difference in the communities we serve and boosting housebuilding and construction at a time where there is a significant undersupply. 

“This really filters down to every member of the team and, under his leadership, I am confident we will make a huge and positive impact.”

After receiving its authorisation with restrictions (AWR) UK banking licence from the FCA and PRA in October last year, GB Bank is undergoing a period of mobilisation to start operating in Q3, when it aims to accept its first customer savings and begin lending for residential and commercial property developments.