CIN.L Regulatory News (CIN)

For release: 11/01/21

The UK's newest SME bank appoints Head of Investor Relations and Communications

Recognise Bank ("Recognise"), the UK's newest SME Bank, announces the appointment of Ben Peters as Head of Investor Relations and Communications. Ben will be based at Recognise's hub in the iconic Royal Exchange building in London.

Ben will be responsible for developing the communications strategy for Recognise Bank and its parent, the City of London Group plc (AIM: CIN), across a range of stakeholders including existing and new investors, customers, media and the professional community. Recognise Bank is now actively lending to UK SMEs deploying the latest cloud-based technology alongside dedicated relationship management and a commitment to deliver with speed and flexibility.

Ben joins Recognise having spent the previous 3 years at City of London Group Plc, initially as Director of Operations and then as Director of Investor Relations working very closely with Group CEO Michael Goldstein helping to lead the 2019 £15m equity raise and the 2020 £27m raise. Prior to joining the group, Ben spent 8 years with EY and PwC leading Business Development aspects of the firms' most important and high value client segments. Whilst at EY, Ben championed EYs first Health, Mental Health and Wellbeing proposition.

On his appointment, Ben commented, "I am excited to continue working closely with Jason and the highly experienced team he has brought together at Recognise. As we enter the market in these uncertain times, Recognise Bank will provide support for underserved SMEs and I look forward to being part of this incredible journey."

Jason Oakley, CEO of Recognise said "Ben brings experience in investor relations to Recognise and having worked closely with the team for 3 years now, he understands the Recognise story and how to engage effectively with our stakeholders. Ben will be integral to helping deliver a successful Bank over the coming years.

Recognise's founding ethos - and the reason for the bank's name - is to focus on the SME community that has been so overlooked and neglected by mainstream banking. The bank will offer a relationship-led proposition which will be delivered through dedicated Relationship Managers (RMs) based in London, Midlands, Manchester, and Leeds. The Relationship Managers will meet each client and provide a responsive and personalised service. Each RM will have deep knowledge of industry sectors and a genuine appreciation for SME challenges.

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For media enquiries, please contact:

Heather Armstrong heather.armstrong@tavistock.co.uk / 07929-116860

Or email colg@tavistock.co.uk 

About Recognise Bank Limited

Recognise Bank was formed to provide financial services to the UK SME sector and the retail and business deposits market. It will target an underserved but growing business customer market offering a relationship-led, digitally enabled proposition.

The bank's efficient technology-driven operating base is expected to allow it to reach profitability within two years of launch. Recognise partners with leading fintech platforms to create a market leading SME service using the best in class technology. Recognise has a strong independent Board and executive team to support an ambitious executive team with over 280 years' experience of building SME banking portfolios. In 5 years time it aims to reach 54,000 depositors and 5,100 borrowers. Recognise is a subsidiary of the City of London Group.

About City of London Group

City of London Group is a forward-thinking organisation focused on serving the UK SME market. It is primed for the future, is grounded with traditional values and a strength and depth of expertise.

The Group's expertise covers finance for the business sector, equity release and secured lending such as commercial, SME, bridging and asset finance as well as lending to professional firms.

The Group ensures its services are always delivered with a personal touch, so clients know that they are more than a customer and have a partner that will work with them as they look towards the future.