Alba Bank - the UK’s newest challenger bank dedicated to supporting SMEs – has bolstered its leadership team ahead of its planned market entry by appointing Michael Mustard as General Counsel and Company Secretary.
Michael joins Alba Bank from Aldermore Bank where he was Interim General Counsel. He brings more than 15 years’ experience in banking legal teams having previously held roles at Tesco Bank, RBS, and Citi. He trained in accountancy at PwC and as a lawyer at Brodies LLP and Allen Overy.
Founded by Scottish entrepreneur, Jim McColl in 2018, with its headquarters near Glasgow, Alba Bank was established to provide commercial finance to UK SMEs which remain underserved by the mainstream banks. Alba is developing a network of regional commercial finance experts across the UK with the experience to work alongside SMEs as they grow.
Having been granted its banking licence by the UK Prudential Regulatory Authority (PRA) and the FCA in early 2023, allowing it to move into mobilisation, Alba Bank has spent the past year building out its team, operations and infrastructure, preparing for market entry in 2024.
Rod Ashley, Chief Executive Officer at Alba Bank, said: “The appointment of Michael will further strengthen the Alba leadership team at a critical stage in the bank’s journey. We’ve a team with the right experience, ambition and values to deliver a new challenger bank aimed at supporting SMEs to achieve their true potential.
“Michael is a very experienced operator in the legal and banking sectors, and his expertise and guidance will be invaluable as we grow Alba Bank post-launch and meet the lending needs of the UK’s SMEs.”
Michael Mustard, General Counsel at Alba Bank, said: “Joining Alba Bank just as they enter the market is an enticing prospect with the challenges and opportunities that new entrants to the market face. Working closely with Rod and the leadership team, I aim to support Alba in realising its bold vision and helping the team navigate the complex legal and regulatory requirements for a new bank in the UK’s financial sector.”