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Recognise Bank hires Jean Murphy as CEO

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  • 04/08/2022
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Recognise Bank hires Jean Murphy as CEO
Digital SME lender and savings bank has appointed Jean Murphy (pictured) as its chief executive, following the departure of Jason Oakley earlier this year.

She has over 25 years’ experience in banking and capital markets, including director of private banking at Morgan Stanley and executive director of Goldman Sachs’ wealth management division.

According to Recognise Bank, she has experience in building businesses within financial institutions as she founded and managed a wealth management firm which advised family offices and high net worth individuals.

In her role she will lead the bank’s digital capability development, which includes creating new products and services and maintain the relationship-approach with SMEs.

She will also spearhead fundraising rounds and utilise her knowledge of private and institutional investors. The company has already raised around £65m in funding.

Her appointment is subject to approval from the Prudential Regulatory Authority.

Oakley left the firm earlier this year, with Bryce Glover taking over on an interim basis. Glover will return to his former role of deputy CEO.

Since then, the firm has completed a £8.7m capital raise, named Sahil Thap as chief technology officer and promoted James Meigh as business development director.

The lender has also hit its £100m lending milestone in just under six months.

Phil Jenks, chair of the city of London Group, the parent company of Recognise Bank, said: “Jean brings huge experience of banking and capital markets to this role, along with a vital entrepreneurial spirit gained from building her own successful company, which gives her an appreciation of the challenges that business owners face.

“On behalf of the board, I am delighted to welcome Jean as CEO and look forward to working with her in the exciting years ahead.”

Murphy added: “This is an exciting opportunity to lead a new bank, driven by a talented, energised team of people who are passionate about helping SMEs. My role is to set out the next stage of the Recognise journey and build a strategy for growth and innovation.

“British businesses face significant challenges over the coming years, but there is also huge potential for success. What they need is the support of a bank that is driven by expertise, insight and imagination, with a strong focus on anticipating and meeting their financial needs.”

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