Co-op poaches executive from CYBG to head up its SME offering

Donald Kerr

The Co-operative Bank has poached a senior executive from CYBG to head up its SME banking business.

Donald Kerr will take up the role of managing director of SME banking following regulatory approval.

In his previous role at CYBG he was head of SME banking.

Before that he oversaw a phase of growth at Lloyds Banking Group, where he held roles in commercial finance and SME banking.

The appointment follows The Co-operative Bank’s aim to take a share of a new £750m fund designed to bolster competition in the market.

Earlier this month the bank said it would apply to the Incentivised Switching Scheme, which forms part of the RBS alternative remedies package, alongside considering its options within the Capability and Innovation Fund.

The Co-op bank currently looks after the banking needs of around 90,000 SMEs, 700 co-operatives, 5,000 charities, and 279 credit unions.

Chief executive Andrew Bester said: “I am delighted that Donald has chosen to join The Co-operative Bank at this important point in our development.

“Our heritage in providing banking services to small and medium sized businesses together with our recognised strong service culture provides us with a great platform.

“We want to significantly build on that and drive greater competition in the market using the strength of our ethical brand which is the reason many of our 90,000 SME customers choose to bank with us.

“Donald’s experience in leading successful business banking operations, and insight into the challenges and opportunities SMEs currently face will be valuable as we increase our focus and build our position in this market and I look forward to working with him.”

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