The Co-operative Bank has appointed Donald Kerr to a new role of managing director, SME banking, as it bids to grow its presence in business banking.
Kerr (pictured), whose appointment is subject to regulatory approval, joins from CYBG, where as head of SME banking he led business growth and delivered key digital improvements.
Previously, he spearheaded growth at Lloyds Banking Group, where he held managing director roles in commercial finance and SME banking.
Kerr will join in early 2019 and report to chief executive Andrew Bester.
The appointment follows The Co-operative Bank’s announcement that it will apply to the Incentivised Switching Scheme, a commitment by RBS to reduce its market share and promote competition in the SME market in return for EU state aid.
Challenger banks can use this fund to incentivise eligible business customers to switch to them by providing special offers or monetary rewards.
The Co-operative Bank currently looks after the banking needs of around 90,000 SMEs, 700 co-operatives, 5,000 charities, and 279 credit unions.
Chief executive Andrew Bester said: “I am delighted that Donald has chosen to join The Co-operative Bank at this important point in our development.
“Our heritage in providing banking services to small and medium sized businesses together with our recognised strong service culture provides us with a great platform. We want to significantly build on that and drive greater competition in the market using the strength of our ethical brand which is the reason many of our 90,000 SME customers choose to bank with us.
“Donald’s experience in leading successful business banking operations, and insight into the challenges and opportunities SMEs currently face will be valuable as we increase our focus and build our position in this market and I look forward to working with him.”