Bank of London appoints Mark Carawan to the UK Bank Board

By Gloria Methri

The Bank of London has announced the appointment of Mark Carawan as a Non-Executive Director (NED) and Chair of the United Kingdom (UK) Bank Board Audit Committee (BAC) subject to regulatory approval.

Carawan is the previous Chair of the Audit Committee of the Institute of Internal Auditors (IIA) as well as a Chartered Fellow, holding global experience in governance, internal audit, risk management, regulatory compliance and ethics, and conduct.

A certified Internal Auditor and Chartered Accountant, Carawan has held several senior executive positions in both the UK and the United States, including Global Chief Audit Officer and Chief Compliance Officer of CitiGroup, and former Group Chief Audit Officer of Barclays.

Carawan will oversee The Bank of London’s financial reporting, external audit and the performance and independence of Internal Audit, and, as Whistleblowing Champion, oversees the Bank’s speaking up and whistleblowing arrangements.

Welcoming Carawan to the board, David Skillen, Chairperson UK, The Bank of London said, “Mark has an impressive background in financial services over his long career, which will help ensure we have a robust financial control framework. I am thrilled to welcome Mark and am confident he will be a driving force as Chair for the Audit Committee.”

Mark Carawan said, “I am delighted to be joining such an exciting company board, especially at this time when The Bank of London is at an evolutionary stage of its journey. I’m eager to get started and am sure its unique proposition and patented technologies will be a game-changer. In my role I will continue to drive transparency and reduce complexity, both of which are central to The Bank of London’s ethos, while ensuring a robust framework.”

A UK-based tech firm, The Bank of London leverages its patented technology innovations and differentiated bank capabilities to power the borderless economic infrastructure.