Amicus applies for banking licence

In advance of Authorisation, Amicus will convert £30m of the debt currently used to fund its lending activities into equity which will form the capital base of the bank’s operations.      

In preparation, Amicus has strengthened its senior management team and governance structure by appointing David Fisher, Alex Shapland and Paul Stevens as non-executive directors to the Board.  David Fisher is the former CEO of Sainsbury’s Bank, Alex Shapland was previously a Partner at PricewaterhouseCoopers and Paul Stevens is the former Head of Investec Private Bank in the UK.

Amicus was formed in 2009 and currently provides short term property loans, SME lending and working capital solutions through its three divisions, Amicus Property Finance, Amicus Commercial Finance and Norton Folgate.  

John Jenkins, CEO of Amicus, said:

“Applying for a banking licence is an important milestone for Amicus as we continue our growth journey. Becoming a bank will ensure we have the resources to grow, adapt and evolve our proposition in the market over the coming years.

“I am delighted to welcome David Fisher, Alex Shapland and Paul Stevens to Amicus. They have outstanding reputations in the financial services sector and will play an important role in strengthening our governance structure as we prepare for the next phase of our growth.”

Keith Aldridge, Founder of Amicus and Managing Director of Amicus Property Finance, added:

“From our modest beginnings in 2009, I am proud to be part of the ever expanding team driving our growth. This is positive news for Amicus Property Finance.

“Strengthening the board allows me to spend more time doing what I enjoy most, delivering for our customers and partners and capitalisation creates more capacity to deploy.”