Afin Bank has appointed former Arbuthnot Latham private banker Tippie Malgwi as business development director, with a remit to strengthen ties with the bank’s diaspora customer base and support the launch of its forthcoming high net worth offering.
Malgwi (pictured) began his career with Guaranty Trust Bank in Nigeria before moving to the UK, where he held roles at RBS, Friends Life and Aldermore. He spent nearly seven years at Arbuthnot Latham working with high net worth clients, experience that Afin intends to draw upon in developing its new Premier proposition.
He said the opportunity to join Afin was “unique” in allowing him to combine financial services expertise with his own diaspora experience.
“I love the vision of Afin Bank and I understand the people we want to help, because it’s my story. I am one of those people who left their place of origin and made this country their home,” he said.
Malgwi added that many diaspora professionals, despite good incomes, struggle to access mortgages because of issues such as visa status or thin credit histories.
“This is my chance to support others, people like me, good earners who offer so much to the UK, and help them to put down roots in this country,” he said.
Alan Davison, chief commercial officer at Afin, said: “Tippie is an important addition to Afin because he brings so much experience and insight of two of our core customer sectors, the diaspora community and high net worth individuals. But he also has a real first-hand understanding of the challenges people from diaspora communities face, which creates empathy and a desire to help our customers.”
Afin, which completed its first mortgage case last month, offers residential and buy-to-let products for borrowers underserved by mainstream lenders, including foreign nationals, the self-employed and professionals.
The lender is backed by WAICA Reinsurance Corporation, one of Africa’s largest reinsurers, and also provides FSCS-protected savings accounts.
