He will be tasked with strengthening its savings and lending proposition for the bank’s growth.
Davidson has worked at Redwood Bank since 2018, just two months after its launch, and was the director of products and strategy. He has more than 35 years of experience in financial services. This includes two decades at Lloyd Banking Group in senior roles, and a number of stints at challenger banks such as Unity Trust Bank and OSB Group.
Redwood Bank said his promotion to the role of CCO reflected his role in shaping the lender’s strategy and customer and broker experience. As CCO, he will help to expand the bank’s lending book and evolve its product proposition.
Redwood Bank said he joined at a time when professional landlords wanted certainty from lenders to expand and diversify their portfolios amid changes across the sector.
Davidson (pictured) said: “The past few years have been marked by changes in regulation, economic instability and frequent base rate changes.
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“These factors have made planning more difficult across the sector, particularly for business banks. But they’ve also reinforced the importance of agility, strong partnerships and staying close to the needs of our brokers and customers.”
He said the lender’s case-by-case approach made it stand out, adding: “We’ve built a reputation for personal service and pragmatic decision-making – we’re committed to retaining that as we grow.”
Gary Wilkinson, CEO and co-founder of Redwood Bank, said: “Stuart has been integral to our success since joining the bank in its infancy. He understands the strategic and operational levers needed to drive growth. His promotion reflects his vision, experience and deep commitment to our customers and brokers.
“I have every confidence he will thrive in this new role and continue to demonstrate the required strategic insight and leadership that have been instrumental in Redwood’s success.”
Last week, the bank announced it had improved affordability across its commercial mortgage range.
