Redwood Bank has announced the appointment of Sergio Cruz as its new chief financial officer, subject to regulatory approval, as the bank sets its sights on a new phase of growth.
Cruz (main picture), who has been with the bank since 2018, succeeds Ashraf Piranie, who retired at the end of March after two years in the role.
Cruz, who first joined Redwood as head of risk, has progressed through a series of senior positions including director of risk, director of treasury, and most recently deputy CFO.
“We have established a great foundation to grow… and I am ready to lead the finance team in the next stage of growth,” Cruz said.
“It is a fantastic opportunity to continue to help shape the future of Redwood. We have already achieved so much since we started in 2017, reaching profitability within five years and receiving a number of awards for products and innovation. There is still so much more we want to deliver for our customers, colleagues, brokers and shareholders.”
Prior to joining Redwood, Cruz held roles at PwC, OneSavings Bank, and Amicus Finance.
He also praised his predecessor for his role in mentoring and facilitating a smooth leadership transition: “There’s a fear of missing out when you’re handing over a role to someone else and I have to credit Ash for being so unique in the way he has planned the transition.”
Piranie, who joined the bank as CFO in 2022, said he had recognised Cruz’s potential from the beginning:“From day one when I met Sergio, I thought very highly of him, the way he thinks, the way he can see the big picture. It is very rewarding for me and for the Bank to see an internal candidate progress to CFO level in line with our succession plans.”
Gary Wilkinson, CEO and co-founder of Redwood Bank, welcomed the appointment: “Sergio’s appointment is a testament to his outstanding contribution to Redwood over the past seven years. He has grown with the Bank, playing a key role in shaping our strategy, strengthening our treasury and finance functions, and helping us deliver on our ambitious growth plans.”
“He embodies the values and culture we are so proud of at Redwood – collaborative, forward-thinking and customer-focused. I have every confidence in his ability to lead our finance team and support the next stage of our journey. I would also like to thank Ashraf Piranie for his valuable support and service and for managing such a smooth and thoughtful transition.”
