LHV Bank has appointed Rachelle Frewer as its new CFO, effective from January 2, 2024. Frewer will also join the bank’s board of directors, replacing the current CFO, Gary Sher, who will step down on September 8. LHV Bank aims to expand its business and increase its SME lending activities while preparing to accept retail deposits.
Facts
- LHV Bank has appointed Rachelle Frewer as its new CFO, effective from January 2, 2024.
- Frewer will also join LHV Bank’s board of directors, replacing the current CFO, Gary Sher, who will step down on September 8.
- Frewer previously served as CFO and board member at Moneycorp Bank, a currency exchange company, since June 2022.
- Frewer has over two decades of experience as a finance professional and has held senior roles at various financial institutions including C Hoare & Co, Lloyds Banking Group, HSBC, Standard Chartered Bank, and KPMG.
- LHV Bank aims to support its business expansion, particularly in SME lending activities and preparing to accept retail deposits.
- In May, LHV Bank obtained a banking license from the UK’s Prudential Regulatory Authority (PRA) without restrictions, becoming the first company to receive such a license in 2023.
- LHV Bank plans to broaden its customer base by offering its solutions to e-commerce businesses and start accepting retail deposits later this year.
