Simon Proctor joins Ashman Bank as head of credit risk

He joins from Al Rayan Bank, where he held the same role and had oversight of the bank’s risk management framework. 

Proctor has more than 25 years of experience in the banking and financial services sector, with previous employers including Barclays, GE Money, Deutsche Bank, Aldermore Bank, and Paragon Bank. 

At Ashman Bank, he will be responsible for the oversight of its lending portfolio such as developing its credit risk strategy, policies and procedures. He will also approve and renew the intermediaries on its panel and be tasked with producing detailed assessments of the bank’s complex customers and commercial lending propositions. 

He will be based in Birmingham and report to Lisa Fergus, Ashman Bank’s chief risk officer. 

Preparing for launch

Proctor’s appointment follows Matt Cowan joining in September as chief financial officer and Neil Molyneux being hired as senior relationship director. 

Ashman’s banking license with restrictions allow it to trade within its remit and it is expected to launch shortly, subject to a regulatory timeline and approval. 

It will focus on lending to SMEs in the commercial real estate sector and lend on deals worth between £100,000 and £5m. It will also offer savings accounts. 

Proctor said: “I am delighted to be joining Ashman at a time when the need for a new approach is so clear in the UK. Having worked at both large, established banks as well as ‘challengers’ in the market over the last two decades, I have seen first-hand what is required to ensure the customer gets what they need – certainty, quick decisions and processes designed to help, not hinder, their own growth.  

“I am excited to join a bank with this ethos at its core and look forward to embedding that culture in the years ahead.” 

Fergus added: “Simon is a critical hire for Ashman, bringing incredible experience to the team that will ensure we can realise our growth ambitions in a way that prioritises the customer’s experience while still maintaining a responsible lending approach.  

“We are building one of the most impressive teams of any new entrant bank I can remember, and I am delighted to welcome Simon to Ashman as a key member of that team.”