Recognise Bank has named Caroline Luxmore as its chief commercial officer to lead its lending and savings teams.
This comes after Recognise Bank recently secured a £25m capital raise, and Luxmore will be tasked with growing the lender’s balance sheet by diversifying its offering and creating a sustainable foundation to expand.
Luxmore has over 25 years of experience in the SME lending market and comes from Ashman Bank, where she worked for nearly four years as head of lending and then chief commercial officer.
Before that, she was at Aldermore for almost a decade, most recently as its head of commercial mortgages, and was previously a business partner at Yorkshire Bank.
Mark Bampton, the current chief commercial officer, will continue in the role until the bank’s March 2025 financial year end.
Bampton was a member of the founding executive team that created Recognise Bank, achieved the banking licence and implemented its business plan.
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He has decided to leave the bank as it moves on to the next phase of its journey.
Simon Bateman, chief executive of Recognise Bank, said: “I am delighted we have secured the services of someone of Caroline’s calibre and expertise as we embark on this exciting new chapter for the bank. Mark played a pivotal role in the launch of Recognise Bank and has been influential in getting it to where it is today.
“On behalf of everyone at the bank, I would like to thank Mark for his commitment over the past seven years and wish him the best for the future.”
Luxmore (pictured) added: “Recognise is already making a difference to under-served SME property investors and its growing retail and SME savings customer base. The ethos of ‘recognising’ that financial services must do more to support this market matches my own deep belief that SMEs are so crucial to wider economic growth.
“I look forward to working with an amazing team to broaden the product offering and set the business up for success.”
Bampton said: “It has been a privilege to work with many talented people who together have built a new bank from the ground up, serving our savers and borrowers alike. I am proud of what we have achieved.
“I would like to congratulate Caroline on her appointment and wish the bank continued success under Simon’s leadership.”
