The firm said that Cowan would help move the firm from new entrant to scale-up, and that he is spearheading a “significant funding round”.
It also noted that it would oversee the bank’s response to climate change, which is part of the firm’s desire to support the property development sector reduce emissions.
Cowan was most recently CFO for DNA Payments Group for nearly three years, and before that CFO for Lqid for just over a year.
He has also been CFO for other start-up challenge banks and interim CFO for the London metals Exchange. He has held roles at RBS, HSBC and Deutsche Bank.
Ashman Bank received its banking licence earlier this year and is in advanced discussions with investors about a funding round which expected to complete by the end of this year.
The company has raised over £17.5m un funding to date and said it has plans to “scale-up” over the coming years.
The lender is initially focused on lending to SMEs in the commercial real estate sector and will lend between £100,000 and £2m.
James Leech, chief executive of Ashman Bank, said: “Matt is someone who has ‘been there, done that’ in banking and this depth of experience will be invaluable to Ashman as we embark on our journey from start-up to scale-up.
“To deliver on our mission to do banking differently for SMEs in the commercial real estate sector, we need a senior team made up of people who bring far reaching insight and experience that will enable us to design something truly different. Matt undoubtedly fits that bill and I am excited to have him on board as CFO.”
Cowan added: “It is time for a new entrant bank to truly make its mark in this segment of the market, which remains underserved by established banks and specialist lenders alike.
“I have been incredibly impressed by what has been built at Ashman to date and look forward to guiding the bank through its full regulatory approval and into scale-up phase over the coming years.”
