Redwood Bank has bolstered its executive team ahead of proposed reverse takeover.

John Eastgate, who has previously worked in C-suite roles with OSB Group and Shawbrook Bank, is the new chief commercial pfficer at Redwood Bank, which recently announced a proposed reverse takeover.

Eastgate (pictured) said: “Redwood’s size was one of the factors that attracted me to the bank. I wanted a role where I could be an influence, not be lost in a huge business.

“Redwood has created a core of belief in its people, and it’s important you don’t lose that core – you grow with it, and I’m keen to support that.

“The proposed RTO is a huge opportunity for Redwood and will provide a platform to grow in the years ahead. I’m excited by what I can bring to that.”

Gary Wilkinson, co-founder and CEO of Redwood Bank, added: “John has joined us at a very important time and we are delighted to welcome him to the team. He is a strong leader and his experience will be invaluable as we enter the next exciting stage of the journey.”