Frewer will take over from Gary Sher, to support the growth of the company, which obtained a banking licence in May
LHV Bank, a provider of banking services to fintechs and SME lending solutions for UK business, has appointed Rachelle Frewer as its new chief financial officer.
Frewer will take up the position at the start of 2024 and join the board of directors, to support the bank’s expansion as it seeks to increase its SME lending and prepares to start accepting retail deposits.
LHV Bank secured a UK banking licence in May, to broaden its customer base. The bank hopes to achieve profitability by the end of its first year of operations.
The bank’s current chief financial officer, Gary Sher, who joined in 2021 during the initial phase of the banking licence process, will step down in September.
Frewer joins from Moneycorp Bank, a currency exchange company, where she worked as the chief financial officer. Previous to this, she held the same role at Wyelands Bank.
She has more than two decades of experience in finance, including at C. Hoare & Co., Lloyds Banking Group and HSBC.
Her areas of expertise include strategic planning and analysis, treasury, operations, investor relations, and compliance.
Erki Kilu, chief executive officer of LHV Bank, commented: “Rachelle will drive our financial strategy to support our business expansion, particularly as we increase our SME lending activities and prepare to start accepting retail deposits.”
Rachelle is also a member of the finance, assurance and risk committee at The Institute of Civil Engineers and a board member of Paxton Management Company.
Image: LHV Bank