LONDON, UK: City of London Group plc introduced that Michael Goldstein, Chief Executive Officer, has notified the Board of his intention to step down efficient from today, 22 March 2022.
Mr Goldstein has been Chief Executive Officer of the Company since 2017, throughout which time, he has overseen the implementation of a brand new technique for the Group, together with the event of Recognise Bank from a fledgling idea through to a fully authorised financial institution serving small and medium enterprises. Michael has additionally efficiently streamlined the Group to focus on delivering the brand new Bank.
Chairman Philip Jenks said: “On behalf of the Board and everybody on the Group, I would like to thank Michael for his management and ardour over the final few years, navigating the challenges that each start-up financial institution faces, to the purpose that Recognise Bank is now one of solely a handful of banks to become fully-authorised since the beginning of the COVID pandemic.
“He has labored tirelessly to assist form the Group’s technique and engage with shareholders and potential investors, leading to roughly £54 million of funding into Recognise Bank since 2017.”
Michael Goldstein said: “I am proud of City of London Group’s achievements throughout the previous 4 years. I dedicated to work with the Board till we felt that Recognise Bank was sufficiently strong for me to step away. This has been achieved and as we glance to the future, we have reached that time the place I am assured that the Board and the devoted team inside Recognise Bank will go from strength to strength.”
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