Alba Bank makes big executive changes

Jonathan Thompson

Rod Ashley has announced he will be stepping down as CEO of Glasgow-based Alba Bank after six years.

Alba Bank is the UK’s newest challenger bank dedicated to supporting SMEs. It received its banking license last year.

Jonathan Thompson, currently chief commercial officer, will take the role of acting CEO. Before joining Alba, Thompson was CEO and co-founder of Bank North.

Alba Bank also said Dominic Wade is joining the firm as chief financial officer from Unity Trust Bank.

Founded by Scottish entrepreneur Jim McColl in 2018, Alba Bank was established to provide commercial finance to UK SMEs, which it says remain underserved by the mainstream banks.

Ashley said: “I have enjoyed every moment of leading Alba from the early days but now is the right time to step aside.

“I will be following Alba’s progress over the coming months and wish the team every success.”

Alba Bank chair Robert Sharpe said: “Rod has been a part of the Alba story for six years but has decided now is the right time to move onto other interests.

“He leaves with our thanks and best wishes.”

Thompson said: “I am delighted to take the reins at Alba and lead the bank through this next critical phase. It is great to have someone of Dom’s calibre alongside me as we take the business forward.”