Cambridge & Counties Bank appoints new CFO

Specialist lender Cambridge & Counties Bank has appointed Richard Hanrahan as its new Chief Financial Officer.

Richard will report to Donald Kerr, Chief Executive Officer, and will also sit on the bank’s board. He succeeds Andrea Hodgson who is leaving to pursue a NED career.

Richard was most recently CFO at Qatar National Bank in the UK, where he was responsible for the financial management of the UK branch, successfully building the finance team. Prior to that he worked at Lloyds Banking Group where he held senior positions in Finance, Treasury, Strategy and Portfolio Management, as well as spending over three years as an SME and corporate relationship manager.

He joins during a strong period of growth at Cambridge & Counties Bank, with the bank registering its highest ever level of gross new lending in FY2023 at £328 million, up 6% year-on-year. Overall, total customer loan balances increased 5% to £1.106 billion while customer deposits rose to £1.155 billion, also up 5%.

The appointment reflects the bank’s ambition in continuing to attract the best talent in the market. With over 15 years of banking experience, Richard is also a qualified accountant (CIMA), a chartered financial analyst (CFA), and a chartered banker.

Donald Kerr, CEO at Cambridge & Counties Bank, said: “We are very pleased to welcome someone of Richard’s calibre and exceptional experience to the senior team.

“Richard will play an intrinsic role in helping the bank to continue delivering on our organisational excellence and turning our strategic focus into results.”

Richard Hanrahan added: “I am delighted to be joining the team at Cambridge & Counties Bank at a time of significant growth.

“The bank is well positioned to continue its growth trajectory, and I look forward to working with the team to continue delivering on our strategic priorities, with the aim of becoming the specialist SME bank of choice in the UK.”