Of Special Interest
- Financial wellness affects half of peoples’ mental or physical health, finds report
- Study finds traditional financial institutions embrace Fintech disruption
- Grass is greener for environmentally friendly businesses, finds Barclays
- Prospective homeowners would consider a 40-year mortgage to escape renting, finds Santander
- Millennials’ needs are changing the face of banking industry, says new report
- FS is putting consumer data at risk by failing to protect mobile apps, says Arxan
- A lack of belief in their ability holds 28% women back in work, says Cambridge & Counties
- ‘Which?’ reveals Scotland has lost over a third of its bank branches in eight years
- Next downturn unlikely to be as bad as 2008, according to S&P
- FCA reveals findings from first cryptoassets consumer research
- US consumers favour single mobile app for banking and payments
- Banks suffering major IT shutdowns every day, ‘Which?’ reveals
- The US will be a key offshore centre in 2019, says GlobalData
- Debit industry changes markedly in 10 years of the Debit Issuer Study
- UK's ‘Big Five’ face ‘too big to compete’ as small challengers secure stellar returns
- Banks as vulnerable now as before crash, says new study
- Leverage ratio a constant conundrum for European and US banks, says SNL
18th October 2011
Shawbrook, the rebranded UK SME bank
Shawbrook Bank launched over the weekend, a UK lender targeting the SME market. The bank is a restructure of Whiteaway Laidlaw joined with a couple of other acquisitions, new management and new capital. Specifically the new chairman is Sir George Mathewson, a former Chairman and before that CEO of Royal Bank of Scotland though leaving in 2006, before the bank's financial and management troubles had manifested. RBS Equity Finance holds a 13% stake in Shawbrook.
Owen Woodley is CEO. He held several positions with Barclays Group before moving to Secure Trust in January 2007 and then becoming CEO at Whiteaway Laidlaw in January of this year.
In forming the new bank Whiteaway Laidlaw first purchased Link Loans and then the Commercial First commercial lending platform. The bank plans to lend £250m (€286m $395m ¥30.4bn Y2,520m) to SMEs during 2012 and claims clear and straightforward applications. The bank is confident there is strong demand for borrowing from SMEs. The big four retail banks have argued that they failed to meet government agreed SME lending targets because of lack of demand from SMEs.