GB Bank is making waves in the financial sector with its planned move from the North East to a new London headquarters.
This strategic relocation is accompanied by a leadership change, reflecting the bank’s commitment to growth and innovation.
GB Bank has announced its plan to relocate its headquarters from the North East to London, marking a significant strategic move. Originally established in Newcastle and later headquartered in Middlesbrough, the bank’s decision to set roots in London signifies its ambition to better penetrate the national market. This relocation aims to enhance its presence in the vibrant London and South East property markets, aligning with its overarching growth strategy.
Coinciding with this strategic relocation, GB Bank is undergoing a leadership transformation. Mike Says has been appointed as the new Chief Executive Officer, succeeding Stephen Lancaster, the co-founder. This marks the bank’s fourth CEO appointment in as many years, indicating a dynamic phase in its leadership evolution. Mr. Says, with over 30 years in finance, aims to speed up the bank’s growth across the UK.
Mr. Lancaster’s tenure saw the establishment and initial expansion of the bank, leaving as the organisation secures £85 million investment. He noted the timing as ideal to step down, expressing pride in the bank’s evolution and his personal readiness for new endeavours.
Despite the relocation, GB Bank will maintain its presence in the North East. The Middlesbrough office will continue operations, serving regional property developers and investors. This strategic dual-location operation underscores the bank’s dedication to its roots while embracing new growth opportunities in major markets.
GB Bank’s continued operation in the North East ensures that stakeholders in the region remain supported, reflecting its commitment to comprehensive national service.
Mark Sismey-Durrant, Chair of GB Bank, expressed deep gratitude for Stephen Lancaster’s leadership and contributions. He acknowledged that the bank’s future prospects are bright, largely due to the groundwork laid by Lancaster.
The Chair also welcomed Mike Says to his new role, recognising his extensive industry expertise as crucial for the bank’s continuous growth.
The leadership transition is seen as a pivotal moment, with strong foundations in place to support the bank’s ambitious national and regional objectives.
GB Bank’s relocation to London marks a new chapter, one that promises enhanced growth opportunities.
Supported by significant investment and leadership change, the bank is set to solidify its standing in the UK finance sector.
