New MD at The British Business Bank

Richard Bearman

The British Business Bank has appointed Richard Bearman as its new Managing Director, responsible for the Start Up Loans programme. Richard was Head of Small Business for HSBC UK, where he worked for 20 years bringing with him a wealth of experience working with start-ups and entrepreneurs

Richard was responsible for setting the strategic direction, growing HSBC UK’s small business customer base and leading a team of Business Specialists, with more than 450 colleagues located across the UK. He also developed HSBC UK’s Direct Business Specialist proposition using a range of telephone and digital tools. In 2018, the business was voted Best Business Banking Provider in the Smart Money People British Bank Awards and Best Online Banking Provider in the Business Moneyfacts Award.

Commenting on the appointment, Patrick Magee, British Business Bank Chief Commercial Officer, said: “Richard is well placed to lead the future of the Start Up Loans programme. He will be working with our nationwide network of delivery partners and our customer service team to help thousands of businesses across the UK to start and grow. Richard will bring great leadership experience to Start Up Loans and his skills will complement the strengths of the existing leadership team as they take the business forward.”

Richard Bearman, Managing Director responsible for Start Up Loans said, “I am really excited to be working for Start Up Loans, part of the British Business Bank. I have a real passion for entrepreneurs and look forward to starting the new role and continuing the great work that has been done over the past few years.”

The Start Up Loans programme, part of the British Business Bank, provides fixed-interest loans and mentoring support to aspiring business owners across the UK who might be struggling to access other forms of finance. Backed by the Government, the programme has lent over £468m to start-ups and early stage businesses since it was launched in 2012.