Monday Interview: John Gribbon, Regional Director of Secure Trust Bank

The regional director at one of the newest additions to the Yorkshire financial marketplace says that the firm’s pipeline is “rammed full” and that he is proud to be leading the setup of the challenger bank in such a competitive space.

Secure Trust Bank opened up its Leeds office in Minerva House on East Parade in August 2018. Speaking to TheBusinessDesk.com, John Gribbon, who worked at RBS for many years – latterly as the bank’s regional managing director – said after a short break he had a thirst to return to commercial banking.

It was in 2017 that he joined Secure Trust Bank and since then, he has built up a team of people who also wanted to work in a challenger bank environment. Gribbon feels there is more scope to adapt to client needs and react to deals in the marketplace within this space. The bank has eight team members across the north, with around 200 years of experience between them. “The team are a delight,” said Gribbon.

He added: “We are not going to be the biggest player in the marketplace but we are credible and we want to find the balance of transacting a blend of deals; especially in the £5m to £50m space.”

Gribbon added: “We have come in at the lower end of the market, which is very competitive. The brand is the people and the reputation in the marketplace. I knew I could open doors and the people we have on the team are well networked, credible people who know how to structure a deal.”

In terms of deal activity, Gribbon added: “I am still positive about the level of activity; I am an optimist at heart. We are growing despite everything else that is going on in the background.”

He  added that because of this ethos, the bank had been asked to pitch against some major banks on deals. “That is really exciting, it shows we are a credible alternative lender. At the end of the day, it is all about trust.

“I am re-energised by what we have achieved. There are plenty of really great businesses we are working with in the region.”

Gribbon said in particular, the manufacturing sector remained a “healthy space” for deals. “The deals are still here. Many are looking for cash and acquisitive work rather than exits. It’s great that right on the verge of Brexit, there are still deals to do,” he added.

Gribbon said that there was plenty of cash and investment money available for businesses doing the “right kind of deals”, especially in terms of availability across private equity houses.

“Of course, there is always risk in lending but debt funds have filled the gaps that banks are taking back . It’s about stretching leverage and it is great for the borrower that there is that type of money available for their business.

“The quality of deals, especially in a robust pre-deal space, means that a healthy and challenging marketplace exists. There are plenty of firms looking at acquisitions and disposals. Our deals pipeline is rammed full at around £20m.

“The great thing is that here we can be a bit more creative and that is how we can compete against the big banks. It’s all about structure and flexibility. It shows a refreshing and energising way of working.

“The market does need to be diverse – there are a lot more independent and challenger banks now. But the ‘vanilla stuff’ if there for the big banks of they want it.”

Of the current economic climate, Gribbon added: “But I do think that when Brexit happens, it will be a bit bumpy.

“The professional marketplace in Leeds is top notch; the quality of people is incredible – world class I’d say.”