Torpey (pictured) has 30 years’ experience working in financial services in the UK, Sweden and Australia and spent almost 20 years at Barclays, from 1988, in a variety of roles including the management of funding facilities for niche financial services firms.
His most recent position was director of strategic projects at BlueStep Bank AB, a large specialist mortgage lender in Sweden and Norway, where he focused on business development and funding projects.
He joined BlueStep as MD/CEO in October 2007, a role he held until June 2016. During this period the loan book grew from just over SEK 2bn to in excess of SEK 12bn (approximately £1.1bn) and in late 2016, whilst under Torpey’s management, Bluestep was a granted a full banking license. He remains on the board of BlueStep Bank AB and is a shareholder of the business.
Torpey worked closely with both Bluestone chairman Alistair Jeffery and CEO Peter McGuinness whilst at Barclays, overseeing funding for mortgages in Australia and New Zealand.
McGuinness said: “It’s clear that David has continued to develop a deep understanding of the operational, funding and regulatory aspects of a specialist mortgage business and has been instrumental in driving the success of BlueStep in Scandinavia. David is held in high regard within the industry, and we are very much looking forward to him joining Bluestone at a time when we are developing a number of lending platforms, including Bluestone Mortgages in the UK and Bluestone Asset Finance in Ireland.”
The appointment remains subject to FCA approval. McGuinness will act as MD of Bluestone Mortgages until that time.
At the time of publishing, a spokesperson for Bluestone was not available to confirm Andrews’ reasons for leaving the company.