The British Business Bank has named Richard Bearman and Reinald de Monchy as Co-Chief Banking Officers, jointly overseeing the organisation’s banking activities to enhance support for smaller businesses.
This restructuring reflects the Bank’s focus on leveraging shared institutional relationships across its guarantee, wholesale, and small business lending solutions. According to the Bank, this approach will enable it to deliver “better outcomes” for both its institutional partners and the small businesses they support.
While Bearman and de Monchy will collaborate to implement a relationship-driven banking model, each will have distinct responsibilities within the new framework.
Richard Bearman will head a newly established Relationship Management function, integrating existing capabilities in relationship and account management with customer service operations. The objective is to create a consistent and streamlined approach to supporting the Bank’s delivery partners, facilitating a seamless growth pathway for businesses across its product portfolio.
Having joined the British Business Bank in 2019, Bearman previously served as Managing Director, Small Business Lending, overseeing initiatives such as the Start Up Loans programme. With over 25 years of banking experience, including leadership roles at HSBC UK, he brings extensive expertise to his new position.
“Over my career, I have developed a real passion for working with and supporting entrepreneurs,” Bearman said, expressing enthusiasm for the opportunity to “build even stronger and more flexible relationships” with the Bank’s partners.
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Louis Taylor, CEO of the British Business Bank, highlighted Bearman’s extensive experience in small business support, noting that his leadership would bring critical expertise to the new role.
Reinald de Monchy will oversee the Bank’s Product teams, which are responsible for developing and managing its Guarantee & Wholesale and Small Business Lending programmes. This function will focus on originating new transactions and refining the Bank’s product suite based on market feedback.
De Monchy has been with the Bank since its inception in 2013 and previously served as Managing Director, Guarantee and Wholesale. He has a background in SME securitisation and finance, with prior roles at Lloyds Bank, MeesPierson, and Rabobank.
“The British Business Bank has a strong set of existing products and programmes,” de Monchy said, adding that he looks forward to working with teams across the Bank and market participants to expand the Bank’s offerings and improve access to finance for small businesses.
CEO Louis Taylor praised de Monchy’s track record, noting his role in developing innovative solutions to market gaps during his tenure. Taylor expressed confidence that de Monchy’s leadership would enhance the Bank’s impact on the UK economy.
The two functions—Relationship Management and Products—will work closely to ensure seamless coordination in transaction origination and market engagement. By aligning their efforts, the Bank aims to better address the financing needs of small businesses across the UK.
