The lender has appointed Nicola Blake as business development officer for the South and East region, joining from Barclays.
The head office-based credit team has hired Andrew Doherty, Carly Nutkins and Athan Polydoros as credit operation officers, joining from Financial Ombudsman Service, Coutts & Co and Tesco respectively.
They will support customer loan approvals and ensure Redwood Bank customers receive fast decisions and timely loan drawdowns.
Tom Worbey has joined the commercial team to support the growth in the lending, after having recently graduated with a degree in Economic History.
Launched in August 2017, Redwood Bank has seen huge personnel growth, bringing the total number of its employees to over 50.
Redwood Bank chief executive officer and co-founder, Gary Wilkinson, said he is delighted with the new recruits and can’t wait to see them play a key part in the development in the months and years ahead.
He added: “They bring with them a wealth of experience, a palpable enthusiasm for the growth of Redwood Bank and a desire to make a real difference for our customers.
“We’re looking forward to embedding them all within the Redwood Bank family. As we approach our first year of trading, I’m proud of what we’ve achieved and I’m confident all five new staff members will be pivotal in helping the achievement of our ambitions for the year ahead and beyond.”