Warrener Stewart helps new business bank set up

17 October 2017 •

The banking sector in the UK has recently seen several new banks evolve; one of the latest, Redwood Bank, a new bank focused on small to medium sized businesses, used Fulham chartered accountants, Warrener Stewart’s expertise to help set their company up.

Co-Founder of Redwood Bank, Jonathan Rowland, enlisted senior partner, Colin Edney and his team to assist them with laying the foundations for his new bank.

“This has been a really exciting project to work on,” commented Colin. “It was very gratifying when Redwood Bank’s full banking licence went live at the end of August”.

Our involvement was to help Jonathan and his team to develop the right infrastructure for the company. We also supported them in providing back office support through the various rounds of financing to get the bank capitalised.”

The bank formally launched in September, with launch events in Letchworth and Warrington. With Redwood Bank providing market-leading deposit rates and a fast turnaround time for asset-backed lending, Colin believes they will fulfil a vital role in the financial market by assisting SME business customers.

“One of the reasons we wanted to work with Redwood Bank was because of their focus on small businesses; many businesses will benefit from Redwood’s fully tailored and agile approach to SME finance.”