Wyelands Bank, set up to help small and medium-sized businesses, has appointed Neil Sawbridge as chief financial officer and Sarah Burkill as a director supporting origination, strategic and product development.
Neil will focus on ensuring services are scalable while increasing the bank’s asset base to help customers trade, grow and create jobs. Sarah will focus on the development of new products and channels to market that complement the bank’s future strategy to help provide industrial, trading and manufacturing businesses with greater access to working capital.
Since opening its doors on 21 December 2016, Wyelands Bank is profitable on a run rate basis. It has grown rapidly with total assets rising from £24 million to in excess of £600 million. In addition, the bank’s interest earning asset book is growing on average by around £30 million per month since April 2017.
Neil Sawbridge, chief financial officer at Wyelands Bank, said: “Wyelands Bank plans to accelerate the growth of the bank’s balance sheet this year as part of its commitment to supporting job creation and the UK economy. I look forward to working with my colleagues to help achieve this.”
Sarah Burkill, director of origination at Wyelands Bank, said: “We will support more growing businesses by ensuring we focus on what our customers need. I’m looking forward to supporting the team to help drive growth.”
Iain Hunter, CEO at Wyelands Bank, said: “As a bank, we get to know the businesses we support in person, giving them direct and swift access to decision makers and helping them to trade, grow and create jobs. Neil and Sarah’s appointments are a very real demonstration of that commitment, complementing and strengthening our team.”
Neil is an experienced CFO with more than 30 years in finance, tax and business development. He has previously held roles with AT&T Capital, Newcourt Credit Group, Dell Financial Services and the CIT Group. As CFO he helped establish CIT Bank Limited in the UK and CIT Group’s European Leasing businesses headquartered in Dublin.
Sarah has more than 10 years’ experience in delivering working capital solutions. She joins from RBS/Natwest Transaction Services where she was the solution delivery director for global trade and supply chain finance. Prior to this, Sarah was interim head of marketing at Trade Finance Partners and was previously a debt and trade finance product manager at Barclays Business. She started her finance career at Cattles Invoice Finance in 2006.