UK challenger GB Bank appoints Mark Sismey-Durrant as new chair
UK challenger GB Bank has appointed veteran banking figure Mark Sismey-Durrant as its new chair. He replaces Mike Kirsopp, who has left the company to return to an executive career.
New GB Bank chair Mark Sismey-Durrant (Image: LinkedIn)
SME and community-focused GB Bank thanked Kirsopp for his time at the business, highlighting his efforts in helping the bank secure its full banking licence in the summer of 2022.
Speaking on the company’s new chair, GB Bank CEO and co-founder Stephen Lancaster says Sismey-Durrant’s “vast experience and expertise are fundamental for the business as we look to progress to the next stage of our development”.
The Middlesbrough-headquartered challenger provides financing solutions of up to £3 million for commercial and residential developments in underserved areas of the UK, with a reported £16 million invested in projects in the North-East since it secured its banking licence.
Sismey-Durrant, who is currently also chair at CashPlus Bank, has extensive C-suite experience having previously served as CEO of Sun Bank and Heritable Bank, and most recently holding the same position at Hampshire Trust Bank, where his new employers claim he “secured Tier 1 & 2 capital, grew balance sheets to £1.3bn and generated pre-tax profits of £17m and £21m respectively”.
Commenting on his appointment, Sismey-Durrant believes the company can grasp new opportunities in its target market as the bank “matures and develops” beyond its launch phase into an “ambitious growth stage”.
