Allica Bank – the recently launched business bank that seeks to empower small and medium sized businesses – has today announced the appointment of Richard Davies as Chief Executive Officer (CEO).
In this role, Richard will be responsible for leading the Bank as it scales to become a major force in serving British businesses, delivering the funding, technology and expertise needed at what is a crucial time for the British business sector.
He joins Allica Bank from Revolut, where he led the group’s global banking proposition, including establishing new leadership teams and operations in Ireland, US, Australia, and Singapore; launching Revolut’s bank in Europe; and progressing Revolut’s plans in the UK.
He has previously held senior roles with TSB, HSBC, OakNorth Bank, and Barclays. He was CEO at OakNorth.
Davies replaces outgoing CEO, Mark Stephens, who recently signalled his intention to retire from executive roles, following a career spanning more than 40 years in UK business banking.
Richard Davies, CEO elect, Allica Bank, comments: “The world as we know it is changing fast and it’s the companies who can blend innovative technology with real human expertise, who will thrive and add real value for their customers.
“It is for that reason I am delighted to be joining Allica Bank. I strongly believe we have the talent, experience and commitment to support British businesses through these uncertain times.
“Now, perhaps more than ever, is when financial institutions need to step up and be counted on behalf of the customers that need them. In my career I have worked for some of the largest established banks and fastest growing challengers, I am excited to be continuing in that vein as I move from one of the most disruptive fintechs, to the bank that I believe can transform business banking in the UK.”