British Business Bank appoints new manager for the North East

THE BRITISH Business Bank has appointed Shaun Fooy to the new position of senior manager for its UK network for the North East.

The Government-owned economic development bank, which aims to ensure finance markets work better for smaller businesses, is establishing a UK network to improve the quality of its service.

The UK Network was originally announced as part of the Government’s modern Industrial Strategy in November 2017, with a remit to help reduce imbalances in access to finance for smaller businesses across the UK.

A spokesman said: “The UK Network will help enhance business finance ecosystems across the UK so smaller businesses, wherever they are, can grow and prosper.

“It will also help the bank develop a deeper understanding of small business finance markets in all parts of the UK so the bank can improve its support to smaller businesses everywhere. Shaun will represent the UK Network across the North East and will engage closely with business finance stakeholders in the region.

“He will be supporting Geoff Whiteland, the recently appointed UK Network director, North of England and the Midlands.”

Mr Whiteland said: “I am very happy to welcome Shaun to the UK Network, where he will be able to build on his existing network in the North East to enhance and build our relationships with key SME finance stakeholders and to help identify and reduce imbalances in access to finance for smaller businesses.”

Mr Fooy added: “I am delighted to have joined the UK Network where I can help develop relationships which can support smaller businesses that are seeking investment to grow, and help to drive economic activity in my home region of the North East of England.”

The UK Network is part of the British Business Bank’s new Demand Development Unit, which has been created to raise the bank’s profile and relationship with smaller businesses.