Board of Directors

Richard Murley


Richard Murley has worked in the City of London for more than 30 years. After studying law at Oxford University, Richard began his career at Linklaters & Paines before moving into investment banking with Kleinwort Benson. In 1998 Richard moved to Goldman Sachs where he worked in mergers and acquisitions. Between 2003 and 2005 he took up a secondment as Director General of The Takeover Panel following which he joined NM Rothschild & Son where he is an Executive Vice Chairman. In addition to being Chairman of United Trust Bank he is also Chairman of the University College London Hospitals Foundation Trust (UCLH) which is one of the most complex NHS trusts in the UK comprising six hospitals and over 8000 staff. Richard is also a trustee of Crisis, the national charity for single homeless people.

Graham Davin

Chief Executive Officer

Graham Davin is the principal stakeholder of United Trust Bank. He was previously Chief Financial Officer and Head of Corporate Finance of Investec Bank and a main board Director of Investec for 16 years. He was a founding partner of the Insinger de Beaufort Group and a Director of its listed parent and its Dutch bank. He is a non-executive director of The Foschini Group.

Harley Kagan

Executive Director

Harley Kagan is the Group Managing Director and is responsible for the Bank’s Lending and Treasury Divisions. He is a chartered accountant and was previously the Finance Director of the UK Operations of Insinger de Beaufort. He has worked extensively in Corporate Finance, concentrating on acquisitions and disposals, and as a strategy consultant with Cap Gemini.

Jonathan Ayres

Executive Director

Jonathan Ayres is the Chief Financial Officer and was previously the CFO of C. Hoare & Co., CFO of Ecofin and Head of Finance at Cazenove Capital Management. He is a chartered accountant and has a degree in Computer Science from Cambridge University. He is currently the Chair of the UK Finance’s Specialist Banks Technical Panel and a member of the Legacy BBA Board.

Noel Meredith

Executive Director

Noel Meredith is a career banker. He joined Midland Bank after graduating from Cambridge University. He was previously at County Bank and Svenska Handelsbanken and has been at United Trust Bank for 16 years. He has extensive experience in corporate and property lending and heads the Development Finance team.

Tracy Blackwell

Non-Executive Director

Tracy Blackwell is Chief Executive Officer and a Director at Pension Insurance Corporation (PIC). Tracy joined PIC in 2006 as CIO. Prior to PIC, she was an Executive Director at Goldman Sachs, principally working with pension funds and insurance company clients across Europe.

Andrew Herd

Non-Executive Director

Andrew Herd is the Managing Director of Lancashire Court Capital Limited, a London-based investment and consultancy business. He was previously an Executive Director of Aspers Group. He is a chartered accountant and worked as a merchant banker for many years. He was Managing Director and Head of Financial Institutions at SG Hambros and held senior roles with Paribas Capital Markets and Morgan Grenfell.

Michael Lewis

Non–Executive Director

Michael Lewis has been involved in investment management since 1983, having worked at Ivory & Sime and Lombard Odier. He is Chairman of Oceana Investment Corporation Limited (UK), The Foschini Group Limited (South Africa), and Strandbags Limited (Australia). He is also a Partner of Oceana Investment Partners (UK) and a Director of Histogenics Corporation (US).

Stephen Lockley

Non-Executive Director

Stephen Lockley is Chief Financial Officer of the international development organisation World Vision International. He is a chartered accountant and was previously Group Finance Director of Arbuthnot Banking Group plc, CEO of Arbuthnot Latham Private Bankers and CFO of the global microfinance corporation, VisionFund International. He was also a Director at Charterhouse Bank and a Partner at Wyvern Corporate Finance.

Alice Altemaire

Non–Executive Director

Alice Altemaire is Vice President of Groupe Renault’s global financing arm and an executive committee member of RCI Bank and Services. Between 2012 and 2016 Alice was the CFO and Head of the deposit and savings business for RCI Bank UK where she was instrumental in the successful launch of this new savings bank in the UK. Alice also has considerable experience of the global motor finance sector.

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