GB Bank appoints new CEO

Lancaster (pictured) is a co-founder of the specialist lender, and boasts more than 30 years of cross sector experience, particularly in fintech. A former CEO of Cascade, Lancaster oversaw the building of its cloud native platform, and has played a central role in developing GB Bank’s own cloud-native banking system.

His appointment has been formally confirmed by the Prudential Regulation Authority, with consent from the Financial Conduct Authority.

GB Bank was developed with co-founders Stephen Black and Emma Black, and aims to deliver bespoke lending products to SMEs and property developers, including offering incentives for sustainable and zero-carbon developments, as well as rewards for developers creating local employment opportunities.

The bank ‒ which received its banking licence in October ‒ is not yet open to trade, but is currently in a period of mobilisation ahead of starting operations in Q3.

Lancaster said that it was a privilege to take up the post, having helped to develop the concept for GB Bank from the outset. 

He added: “We are steadfastly committed to delivering on our purpose which is to take property development finance to where it’s needed most and it’s great to see this goal gathering traction as we move ever closer to being fully operational.”

Paul Rippon, non-executive chairman at GB Bank, said that Lancaster had a proven track record. 

He continued: “He is passionate about making a tangible difference in the communities we serve and boosting house building and construction at a time where there is a significant undersupply. This really filters down to every member of the team and under his leadership I am confident we will make a huge and positive impact.”