New SME bank gears up for 2021 launch

Recognise Bank is one of the first SME-focused banks to receive authorisation since the Covid-19 pandemic began and will begin selective lending, on an unregulated basis, before gearing up to full operational activity in H1 2021.

A subsidiary of City of London Group, Recognise will initially launch working capital loans, bridging loans and commercial property loans. Savings products will be available to personal customers from the first quarter of next year and to businesses from the second quarter.

The bank will offer a relationship-led proposition which will be delivered through dedicated relationship managers based in London, Midlands, Manchester, and Leeds.

Recognise has appointed Jackie Skelt as regional director for London and the Midlands, while Shami Sharma and Dave Bronsdon will be business development managers for London.

Jackie joins Recognise with over 20 years’ experience, having worked in senior roles for various financial institutions including NatWest, Santander and Metro Bank.

Shami’s past roles focused on commercial and senior relationship management at NatWest, Metro Bank, and Assetz Capital. Shami will be responsible for the London and South East area, where he has many years of experience dealing with SMEs in the real estate sector and trading businesses that require working capital.

Dave has over thirty-five years’ experience as a relationship manager working with the SME and commercial banking sectors, gained at RBS, NatWest, and Metro Bank.

Jackie commented: “I am excited to take a hands-on role at Recognise at a time when SMEs really need the extra support. Our London team is made up of highly experienced people, with a passion for helping businesses grow. And the city is full of businesses with great potential, crying out for specialist lending solutions.”

Jason Oakley, CEO of Recognise, added: “We are thrilled to add even more talent to our experienced team that will contribute to the growth of Recognise and our expansion within the regions. Jackie, Shami and Dave are perfect additions to our London team, with lots of experience in SME banking.”