City Of London Group PLC Appointment of CTO
October 04 2018 - 2:00AM
RNS Non-Regulatory
TIDMCIN
City Of London Group PLC
04 October 2018
City of London Group PLC
04 October 2018
CITY OF LONDON GROUP APPOINTS CHIEF TECHNOLOGY OFFICER TO
SUPPORT BANKING LICENCE APPLICATION
-- Monica Velasquez-Torres joins financial services business
from PwC (PriceWaterhouses Coopers LLP)
-- Brings expertise in new banking technologies, supplier
selection, logical architectures and IT systems management
-- Focus will be on helping to support the in-flight banking
licence application using her sector experience
The AIM listed City of London Group ("COLG") has announced the
appointment of Monica Velasquez as its new Chief Technology
Officer. Monica took up the role on October 1(st) .
In 2018, COLG acquired Echo Financial Services Ltd which is
currently re-branding to "Recognise". Recognise is applying for a
banking licence and, if successful, will create a new UK based SME
bank focused on service excellence, speed of execution, flexible
structuring and durable customer relationships. This is a key
element of COLG's future strategy.
Critical to success will be taking advantage of cloud
technologies and the latest, versatile core banking platforms and
architecture to support the 'customer first' vision and the
management teams' ambitions for the future. Recognise is being led
by Jason Oakley, previously Metro Bank, Managing Director,
Commercial.
During her time as Technology Consultant at PwC, Velasquez was
in the unique position of supporting more than half a dozen new
entrant banks to secure their banking or payments provider
licences. Prior to specialising in Banking Authorisation, she spent
time helping global and leading banks in all aspects of IT service
and risk management. Her qualifications include both Electronic
Engineering and Management.
Michael Goldstein, CEO, COLG said: "I am delighted that we have
been able to bring Monica on board to support the group and
particularly Jason Oakley and the Recognise team. Not only does she
have a quite incredible academic and technical background, Monica
has unique experience of taking new entrants through the licence
application process."
Monica Velasquez-Torres said: "Having worked with the COLG and
Recognise management as part of the wider PwC banking consultancy
this was an exciting opportunity to join a talented, very
experienced team on their licence journey and to deliver the
technology vision."
Enquiries:
City of London +44 (0)20 7490
Group Michael Goldstein 8100
Katharine McNamara
Konductor Limited Rebecca Sanders-Hewett +44 (0)7966 505661
Notes to Editors:
About City of London Group
City of London Group is a forward-thinking organisation focused
on serving the UK SME market. It is primed for the future, but
grounded with traditional values and a strength and depth of
expertise, looking to grow through its two-pronged strategy.
The Group's expertise covers equity release, finance for the SME
sector, and secured lending. The Group has experience with
commercial banking and mortgages, and access to funding
arrangements such as commercial, SME, bridging and development
finance, home reversion plans, and asset and loan finance.
COLG ensures its services are always delivered with a personal
touch, so clients know that they are more than a customer and have
a partner that will work with them as they look towards the
future.
About Recognise
Recognise was formed to provide financial services to the UK SME
sector and the retail and business deposits market. Subject to the
successful granting
of a banking licence from the Regulator, it will target an
underserved but growing business customer population seeking
greater human contact, better speeds of response and execution,
flexibility of structuring and continuity of management.
If successful, the business expects to raise new capital (likely
equity) to grow its loan book. The executive team has extensive
experience of operating in the regulated banking sector, they have
faced the challenges of building SME banking portfolios, both
lending and savings, and consequently have a good understanding of
the market dynamics and the associated threats and
opportunities.
www.cityoflondongroup.com
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END
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