Tandem Financial institution’s pivot to turning into a inexperienced eco-bank continues.
Picture supply: Ricky Knox/Tandem.
After a 12 months of large modifications, Tandem Financial institution has confirmed that CEO and co-founder Ricky Knox is leaving the enterprise.
Knox is being changed by Susie Aliker, who was most just lately CEO of commerce finance group BACB and, earlier than that, spent 14 years at Credit score Suisse.
Tandem has been pivoting its enterprise from a consumer-facing bank card model to grow to be a ‘inexperienced financial institution’ with financial savings accounts and residential loans to make energy-saving enhancements.
The financial institution just lately acquired a £100m mortgage ebook from Financial institution and Shoppers, a non-public financial institution holding property from Northern Rock and Virgin Cash, transferring 300 mortgage prospects over to Tandem.
A lot of the change is being pushed by investor Pollen Road Capital, which has been working with Tandem’s board and administration “to create a banking platform which provides prospects entry to borrowing choices that promote environmentally accountable homeownership and residential enchancment within the UK”.
The modifications are a far cry from how Tandem was initially envisioned by Knox when he based the enterprise in 2014 as a banking different to compete with the likes of Monzo and Starling.
“Ricky will deal with creating his different actions in FinTech and the broader Monetary Companies area,” mentioned Tandem’s chair Jeffrey Pritchard, beforehand a non-executive director of Harrods Financial institution earlier than it was acquired by Tandem in 2018 to safe a banking licence.
“Ricky leaves Tandem with our good needs, and we want to provide our thanks for his onerous work and dedication in constructing Tandem.”
Knox was not quoted within the financial institution’s assertion on his departure, and Aliker’s appointment remains to be topic to regulatory approval.