Britain’s newest business bank is banking on Warrington
- New business bank, Redwood Bank Warrington, launches in heart of town
- Launch event held at Halliwell Jones Stadium
- Warrington Borough Council is a major shareholder
- Bank aims to help support local businesses and professional landlords with commercial mortgages
- Attractive savings accounts for businesses, charities, clubs, associations and societies.
Redwood Bank Warrington officially launched its local office in the heart of the town this week. The new bank, which launched in August, aims to offer a real alternative for small and medium sized organisations in and around Warrington, with the new office spearheading the banks’ lending in the town and its heartland region of the North West.
The bank provides loans to business owners in the area, secured on their commercial property, together with loans to professional landlords, secured on their residential or commercial investment properties. It has also launched Best Buy online notice savings accounts for businesses, clubs, societies, associations and charities. The bank’s products are supported by a highly personalised, relationship driven service from a local Warrington-based team.
Speaking at Redwood Bank Warrington’s official launch event from the Halliwell Jones Stadium this week, Gary Wilkinson, CEO and Co-Founder of Redwood Bank, said: “We are delighted and proud to be open for business and to launch Redwood Bank Warrington and to confirm our commitment to helping local businesses thrive. I would like to take this opportunity to thank the Warrington community for welcoming us into your town and we look forward to helping local businesses unlock their full potential.”
Warrington Borough Council is a major shareholder in the Bank in what is a unique public-private partnership which aims to stimulate sustainable economic growth in Warrington and the surrounding area through community-style business lending.
Cllr Russ Bowden, executive board member for corporate finance at Warrington Borough Council, added: “In Warrington we are doing everything we can to support the local economy and help businesses thrive. It’s an important part of securing a better future for the Borough. These proposals are part of this wider work. It’s about us doing things differently and using innovative financial approaches to support growth and sustainability in Warrington.
"Our partnership with Redwood Bank is the latest example of how we are doing business through innovative financial practice to secure a better future for the Borough. I’m looking forward to Redwood Bank giving a real boost to the local economy and helping Warrington businesses thrive.”
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 contact:
Graham Reynolds / Kelvin Godhard at Redwood Bank
graham.reynolds@redwoodbank.co.uk / kelvin.godhard@redwoodbank.co.uk
Tel: 0330 053 6067
Notes to editors:
Redwood Bank:
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.