- Sam O’Connor’s New Role: Sam O’Connor, former CEO of Coconut, is now leading business banking at OakNorth Bank.
- Business Banking Offering: OakNorth Bank’s business banking targets mid-sized businesses with revenues between £1 million and £100 million, offering a dedicated business partner to understand their needs and provide tailored information on OakNorth’s products and services.
- Target Audience: The business banking initiative aims to serve financially underserved founders, CFOs, CEOs, and directors, addressing what Rishi Khosla refers to as “the missing middle.”
- Phased Beta and Waiting List: The offering is currently in a phased beta, with prospective clients encouraged to join a waiting list.
- O’Connor’s Journey with OakNorth: Sam O’Connor initially joined OakNorth as a contracted advisor in May, later becoming the general manager of transaction banking in August. He emphasizes an easy decision to take on the full-time role after working closely with the team.
- Background: Before OakNorth, O’Connor was the CEO of Coconut, an app-based solution for accounting and taxes. Coconut was acquired in June through an equity deal with GoSimpleTax.
- Previous Ventures with Adam Goodall: O’Connor and Goodall collaborated on previous ventures, including launching the electronic audit confirmation solution ProConfirm in 2012. They exited when the solution was acquired by Confirmation in July 2014.
