Redwood Bank has made two senior appointments to its board as part of its ‘mobilisation’ prior to launch later in 2017.

David Buckley has been appointed chairman and is a non-executive director, and Nigel Boothroyd will join as a non-executive director.

Buckley holds a number of non-executive and advisory board positions and is currently independent non-executive director and Chair of the Audit Committee for CIBC World Markets plc. He was previously the lead independent non-executive director for Fullerton Health pte in Singapore. Prior to this, he was European CFO for Morgan Stanley, chief executive of Morgan Stanley Bank International and a member of its European Management Committee.

Before joining Morgan Stanley, Buckley was international treasurer and European head of the Global Banking Group for Goldman Sachs.

Boothroyd has spent some 38 years at HSBC Group. He has held a number of senior roles in the UK, Europe and North America within corporate and commercial banking, credit risk, operational risk, retail banking and wealth management.

Between 2012 and 2015 he was the national head of corporate banking for HSBC Canada. His appointment as non-executive director and intended chairman of the Bank’s Risk Committee, will be subject to obtaining regulatory approval.

Redwood Bank is a new UK SME Business bank that has recently secured its banking licence.

Jonathan Rowland, co-founder and non-executive director of Redwood Bank, said: “We are delighted to have both David and Nigel on our Board. They have a wealth of relevant experience and have much to offer us as we look to launch and grow the bank.”

Gary Wilkinson, co-founder and chief executive of Redwood Bank, added: “David and Nigel are very welcome additions to our experienced team, and will both have key roles to play in helping us reach our goals.”