Patrick Crawford takes Charity Bank into new phase
Patrick Crawford is to take Charity Bank into a
new phase of growth as its new chief executive.
He takes over from founder Malcolm Hayday who is stepping down
after 10 years. Malcolm Elliott joins as deputy CEO.
Charity Bank is the UK’s only bank regulated by the Financial
Services Agency to invest depositors’ money in loans to charities
and social enterprises.
Mr Crawford qualified as a barrister before following a career
in banking. He joins from UK Export Finance, the government
department that acts as the UK’s export credit agency, where he has
been chief executive since 2004.
He is a former global head of project and export finance at
Deutsche Bank and managing director of Emerging Africa Advisers,
Standard Bank London, the manager of the Emerging Africa
In the bank’s first decade, it has made more than 1,000 loans,
valued at over £170m, supporting project expenditure of more than
£365m which is said to have improved the lives of 3.5m people.
George Blunden, bank chairman, said: “Over the next five years,
with further capital backing from existing and new investors, we
aim to increase the financial options for many more charities and
social enterprises but without changing our risk profile.
"We believe that Patrick Crawford and Malcolm Elliott are the
people to lead us there.”
Mr Crawford said: “If you identify the banking crisis as having
started with Northern Rock’s forced decision to stop lending to its
customers five years ago, Charity Bank has bucked the banking
trend, growing its deposit book by more than 200 per cent and its
lending by more than 300 per cent in that time.
"While some banks carry some responsibility for their role in
the credit crisis, the vast majority have suffered as a result.
Charity Bank is the notable exception and has grown since the
"Under Malcolm Hayday’s leadership, Charity Bank has developed
from a concept to a leader in the world of social finance. I hope
that I will be a worthy successor at this key stage in its
Mr Elliott’s last job was as head of risk reporting with Just
Retirement. He has previously worked for Legal & General, RBS
and Chase Manhattan Bank.