Anthony Watson, the founder of The Bank of London, is stepping down from his role as CEO and will be moving into a new position as a senior adviser at the company.
Watson will continue to serve as a non-executive director of the group’s holding company and remain a shareholder.
Stephen Bell, who has held the position of chief risk and compliance officer at the bank for the past three years, is set to assume the role of CEO, pending regulatory approval.
Reflecting on his decision, Watson called it “one of the most challenging decisions of my career” and stated that “now is the right time after eight years leading the company.”
“Founding The Bank of London and watching it grow into what it is today has been the greatest privilege of my life,” Watson said.
He added, “Just as a founder must build, they must also know when it is the right time to pass the torch.”
Watson expressed his “full confidence” in Bell, emphasizing that he is “the right person to lead the bank into its next chapter.”
The Bank of London, which was founded in 2021, offers a range of clearing services, including settlement, payments, cash management, and embedded banking, to over 4,500 businesses across the UK.
The company is actively working to expand into neighboring markets and submitted an application for an EU banking license in July of last year.
This application was accompanied by a commitment from the firm to invest €200 million in Luxembourg and the surrounding region to support its growth within the EU. At present, there have been no further updates regarding the status of this application.
