Robin Budenberg, former chief executive and chairman of the body that manages the UK taxpayers’ bank stakes, and Kate Sayer, author of several charity finance books and auditor to charities and social enterprises, both join the Charity Bank board.
Charity Bank, a social purpose bank that uses savings to make loans to charities and social enterprises, has appointed two new members to its board, one from the financial sector and one from the charity sector, as it seeks to more than triple the size of its loan book over the next five years to around £250 million.
Budenberg was a key custodian of the UK Government’s £100 billion investment in the UK banking industry. He stepped back from his role as chairman of UK Financial Investments, the Treasury unit that manages taxpayer shareholdings in Lloyds Banking Group and Royal Bank of Scotland, in 2013.
“Joining the Charity Bank team provides an exciting opportunity at a time when the Bank has the capital available to provide charities and social enterprises with the financial resources to make a real difference to UK society.”Robin Budenberg
Sayer is a Chartered Accountant and a visiting lecturer at Cass Business School for courses in charity finance. She has extensive knowledge and experience of governance, law, VAT and tax law relating to charities, risk issues and implementing strategies.
“When I started to work with charities and not-for-profits many years ago, it was like coming home. I love working in a sector where I share the values of my clients and I can truly commit myself.”Kate Sayer
George Blunden, chairman of Charity Bank, says: “Following last year’s commitment of £14.5m-worth of investment from Big Society Capital, Charity Bank is transforming itself from a small, determined organisation, into a strong bank for the common good that can stand up, speak out and support the non-profit sector. The appointment to the board of these two eminent figures and key influencers in their respective fields - Robin in finance and Kate in the charity sector – will help the Bank take significant steps towards achieving its ambitious growth plans.
“We have the capital to grow, the momentum is there and now with the excitement shared by all of us at Charity Bank we can cement our position as the bank of social purpose working for the common good.”