New CEO appointed at British Business Bank

Louis Taylor has been appointed CEO of the Sheffield-headquartered British Business Bank, the UK’s economic development bank.

He will take up the role from 1 October. Taylor is currently CEO of UK Export Finance, the UK Government’s export credit agency.

He joined UK Export Finance in 2015 and during his tenure the department has provided its highest level of support for UK exporters in 30 years. It has also ended its financial support for overseas fossil fuel projects, while operating at no net cost to the UK taxpayer.

Before joining UK Export Finance, Taylor had a career in banking and corporate finance, most recently with Standard Chartered Bank where he held positions as chief operating officer for Group Treasury and also as CEO, Vietnam, Laos & Cambodia.

His early career included eight years in investment banking for JP Morgan and seven years running strategy and acquisitions for Cookson Group plc and Invensys.

In September 2020, Catherine Lewis La Torre was appointed interim CEO of the bank to allow Government to map out the next phase of the bank’s development before starting the search for a permanent successor to the CEO.

La Torre will continue in post as interim CEO through to autumn to ensure an orderly transition.

Lord Smith of Kelvin, chair of British Business Bank, said: “Louis is a highly respected, strategic leader, with more than 30 years’ banking and corporate finance experience and a strong track record of success.

“He has successfully led UK Export Finance for more than six years and has made a considerable contribution to the agency since he joined in 2015.

“I look forward to working with him as we support the UK’s economic recovery through the bank’s debt and equity programmes, launch the Next Generation of Regional Funds, and also continue to address fraud and financial crime in relation to the Covid-19 loan schemes.”

Taylor added: “I am pleased to have the opportunity to lead the British Business Bank, with its well-established support for smaller businesses to start, grow and develop, as well as its important role as the UK’s economic development bank.

“Continuing to deliver on the Government’s agenda for levelling up and driving towards net zero is an exciting prospect that I look forward to addressing with the bank’s talented team.”