ThinCats names former British Business Bank boss as chair
Former British Business Bank (BBB) chief executive Keith Morgan has been named as chair of ThinCats.
Morgan (pictured), who left the British Business Bank (BBB) in 2020, has joined the board of the alternative lender and replaces Quentin Baer, previously chair of ThinCats since 2016.
Baer will remain as non-executive director.
Morgan was the founding chief executive of the state-backed BBB when it launched in 2013 and has helped oversee funding commitments with a range of alternative lenders including P2P platforms such as Funding Circle.
He is currently also a non-executive director of UK Asset Resolution, which manages the old assets of Northern Rock and Bradford and Bingley.
“As a leading alternative lender to mid-sized businesses, ThinCats has an important role to play in providing much needed funding to businesses that are putting in place new growth plans following the pandemic,” Morgan said.
“I am delighted to be taking on the role of chair at this time, as ThinCats expands its operations and deploys its increased funding base to lend a further £2bn to scale-up businesses over the next few years.”
It comes after ThinCats last year announced a strategic investment of £160m from Wafra Capital Partners, alongside senior bank and institutional funding, to boost its lending.
“It is a critical time to be supporting mid-sized businesses who are vital to employment creation and the long-term prospects of the UK economy,” Amany Attia, chief executive of ThinCats, said.
“Many businesses are keen to make the most of growth opportunities, either organically or through acquisition, as pandemic restrictions have eased.
“We are seeing growing demand for our services as corporate debt advisers increasingly recommend alternative lenders to their clients. Keith’s experience will be invaluable in guiding us through the next phase of our growth.
“I would like to thank Quentin for his advice and encouragement as chair and am pleased that ThinCats will continue to benefit from his support as a member of the board.”
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