A challenger financial institution specialising in inexperienced finance has poached its new finance chief from a rival because it seeks to speed up its progress in a difficult financial surroundings.
Sky Information understands that David McCarthy, who resigned after eight years as chief monetary officer of Atom in September, is becoming a member of Tandem Financial institution in the identical function.
Mr McCarthy’s appointment, which might be introduced on Monday, will come as a part of a reinforcement of Tandem’s senior administration ranks.
It can additionally say that Wahid Ali, a former govt at Royal Financial institution of Scotland and official on the Prudential Regulation Authority, has been recruited as its chief danger officer.
Tandem introduced within the autumn that Alex Mollart had been employed as its chief govt, whereas the previous TSB boss Paul Pester was named chairman earlier within the 12 months.
The lender, which acquired Harrods Financial institution in 2018, is backed by the non-public fairness agency Pollen Avenue Capital.
Its focus is tapping into the rising demand for inexperienced finance by means of merchandise comparable to a just lately launched inexperienced mortgage.
It additionally launched Tandem Market, a hub for customers to seek out sustainable and power environment friendly services, and is a finance associate to a a number of main power and residential enchancment suppliers.
Tandem’s deposit base is alleged to have damaged by means of the £1bn barrier this 12 months, though it stays a tiny participant in Britain’s huge retail banking market.
The corporate declined to touch upon Mr McCarthy’s appointment on Sunday.
