FOR IMMEDIATE RELEASE
• New business bank, Redwood Bank, chooses Letchworth for its head office
• The only business bank to have a Hertfordshire head office
• Launch event held in Letchworth
• More than thirty staff have been recruited for its Letchworth office
• Bank aims to help support local businesses and professional landlords with commercial mortgages
• Attractive savings accounts for businesses, charities, clubs, associations and societies.
Based in the heart of Letchworth Garden City, Redwood Bank has become the first business bank to have its head office located in Hertfordshire. Recently launched in August, the bank aims to offer a real alternative for small and medium sized organisations looking to make their properties and cash work harder for them.
The bank provides loans to business owners, secured on their commercial property, together with loans to professional landlords, secured on their residential or commercial investment properties. It has also launched competitive, online commercial savings accounts for businesses, clubs, societies, associations and charities. The bank’s products are supported by a highly personalised, relationship driven service.
Speaking at Redwood Bank’s official launch event in Letchworth this week, Gary Wilkinson, CEO and Co-Founder of Redwood Bank, said: “We are both delighted and proud to now be open for business and to have our HQ based here in Letchworth, thereby being able to help organisations in our heartland region of Hertfordshire, Bedfordshire and Buckinghamshire. So far, we have recruited more than thirty people into our Letchworth team and we look forward to offering further employment opportunities as we develop and grow.
“I would like to take this opportunity to thank the Letchworth community for welcoming us into your town and we look forward to becoming a permanent fixture going forward.”
Alan Millard, North Hertfordshire District Council Chairman said: “We share Redwood Bank’s enthusiasm for Letchworth and we thank them for their investment and commitment to the town. Having a challenger bank choose the world’s first Garden City as the location for its head office shows that Letchworth is earning its stripes as a unique, innovative and inspirational destination for businesses”.
As part of the launch Redwood Bank introduced a new 95 Day Business Savings Account available to businesses, charities, clubs, associations and societies, paying a very competitive interest rate of 1.05% AER variable. This has been placed straight into the national best buy tables.
Redwood Bank is covered by the Financial Services Compensation Scheme (FSCS), the UK’s deposit protection scheme, protecting customers’ eligible deposits up to a total of £85,000.
For further information, visit redwoodbank.co.uk/news or contact:
Graham Reynolds / Jessica Ribbans at Redwood Bank
email@example.com / firstname.lastname@example.org
Tel: 0330 053 6067
Notes to editors:
Launched on 29 August 2017, Redwood Bank became Britain’s newest business bank for SMEs (small and medium sized enterprises) completing it’s ‘Mobilisation’ phase just over four months after securing its initial banking licence in April 2017. Redwood Bank offers secured SME mortgages for business owners, as well as for experienced commercial and residential property investors. Redwood Bank aims to deliver fast and efficient mortgage decisions to help their business customers seize property opportunities. It also offers competitive business deposit accounts. Redwood Bank was founded by Gary Wilkinson and Jonathan Rowland. It has a unique ownership structure. The Bank is wholly-owned by Redwood Financial Partners Ltd, a company controlled by Jonathan and David Rowland, in which Warrington Borough Council has a one-third stake.
Gary Wilkinson, Co-Founder & Chief Executive Officer:
Gary Wilkinson is a qualified chartered accountant and has 30 years’ experience within financial services, in both the banking and building society sectors. He has held senior positions at Alliance & Leicester Plc, Nationwide Building Society and Newcastle Building Society before joining Pensions Bank in September 2010 as Chief Executive Officer. Gary facilitated the transfer of the undertaking and assets of Pensions Bank in June 2012 to a newly authorised Challenger Bank called Cambridge & Counties Bank (CCB) and became its CEO. Gary co-ordinated and led the submission of the banking licence Application for Authorisation for CCB and led its successful launch in 2012. The Bank moved into profit on a monthly basis just 13 months after launch. When Gary left CCB at the end of 2014 his legacy was one of a secure, robust bank, with a powerful brand, experienced staff and being very well positioned to build upon its successful development to date. Gary is also a Non- Executive Director of Hinckley & Rugby Building Society.
Jonathan Rowland, Co-Founder & Non-Executive Director:
Jonathan Rowland has 25 years’ experience as an Investor and Director of Public and Private Companies globally. He has been part responsible for the development of the Rowland Family businesses over that period including leading the restructuring and recapitalisation of Kaupthing Bank Luxembourg. The transaction involved a demerger of the existing business into two new businesses. The first business, Banque Havilland S.A, was a new entity granted a Banking Licence by the CSSF and capitalised by the Rowland Family. The second business was a securitisation vehicle called Pillar Securitisation S.A to which the majority of the Loan Book was placed. Between 2009-2014, Jonathan held the positions of Chief Executive Officer of Banque Havilland S.A between 2009-2012, Chief Executive Officer of Banque Havilland (Monaco) SAM between 2012-2013 and was a Board Member of both at all times.
Redwood Bank launched in August 2017 with a view to offering a real alternative for small and medium sized organisations looking to make sure that their properties and cash work harder for them.
We offer British businesses simple, transparent loans and savings accounts backed up with tailored service, efficient systems and with the knowledge that money is being invested back into British business and into the communities we're part of.
24 Oct 2017 16:41
02 Oct 2017 09:30
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