Jonathan Thompson, Co-Founder, B-North & Ron Emerson

Manchester-based challenger bank B-North has announced the appointment of Ron Emerson as its Chairman, effective from September 16th.

Emerson was previously the founding Chairman of the development bank – British Business Bank (BBB), a senior banking advisor at The Bank of England. He was a member of the Faculty of Management Studies at Oxford University.

Ron Emerson said: “The success of SMEs relies heavily on having access to efficient funding, something which can all too often be lost due to the centralized legacy systems operated by traditional lenders. B-North aims to be there for SMEs at the crucial point in their development. I am delighted to have the opportunity as Chair to work with Jonathan and the team to make sure SMEs in Manchester, and across the UK, can thrive.”

The British bank is currently in the process of receiving a banking license from the Greater Manchester Combined Authority (GMCA). The bank aims to assist the Manchester SMEs through the facilitation of debt capital. It has stated that its localized ‘Lending Pods’ model is expected to enable the provision of SME loans in under 10 working days. The model will also operate across cities in the UK.

Jonathan Thompson, Co-Founder, B-North, said: “We’re thrilled that Ron’s joining B-North as our new Chair, to lead our mission to deliver essential lending solutions for SMEs across the UK. His impressive track record and extensive board experience is invaluable as B-North enters the next exciting stage of its development – a banking license and establishing localized lending pods around the UK”.

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by Megha Bhattacharya
Market Analyst at IBS Intelligence
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