Board of Directors

Richard Murley


Richard Murley studied law at Oxford University and began his career at Linklaters & Paines before moving into investment banking with Kleinwort Benson and Goldman Sachs. Following a two-year secondment as Director General of The Takeover Panel, he joined NM Rothschild & Son where he is an Executive Vice Chairman. Richard recently stood down as Chairman of the University College London Hospitals Foundation Trust (“UCLH”) and remains a trustee of Crisis UK, the Royal Society for Medicine and Macmillan Cancer Support, and is a member of the Medical research Council and the Panel on Takeovers and Mergers.

Graham Davin

Chief Executive Officer

Graham Davin is the principal stakeholder of United Trust Bank. He began his career at Arthur Andersen and 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, a listed multi-brand retailing group.

Harley Kagan

Executive Director

Harley Kagan is the Group Managing Director of United Trust Bank, and a chartered accountant. He was previously the Finance Director of United Trust Bank and the UK Operations of Insinger de Beaufort. He has worked extensively in banking and 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 of United Trust Bank, a position he previously held at C. Hoare & Co. and Ecofin. Jonathan qualified as a chartered accountant with Price Waterhouse where he specialised in banks and fund managers before becoming an equity analyst at Goldman Sachs. He studied Computer Science at Cambridge University. He is the Chair of UK Finance’s Specialist Banks Working Group 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 19 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 of Pension Insurance Corporation (“PIC”). Tracy is also CEO and a Director of PIC’s parent company, Pension Insurance Corporation Group. Prior to joining PIC, Tracy spent 10 years at Goldman Sachs, including as Head of Risk Management, EMEA at Goldman Sachs Asset Management, working with pension fund and insurance company clients on investment, risk and strategic issues. Tracy is a Trustee and Honourable Treasurer of the Elton John Aids Foundation.

Andrew Herd

Non-Executive Director

Andrew Herd is the Managing Director of Lancashire Court Capital Limited, a London- based investment and consultancy business and of VGC Developments Limited a UK leisure and gaming operator. He is a Non- Executive Director of Nexus Group Holdings Limited. 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 Holdings Pty 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 with many years of experience in financial services and investment banking. During his career, Stephen has been the Group Finance Director of Arbuthnot Banking Group PLC, CEO of Arbuthnot Latham Private Bankers, CFO of VisionFund International, a Director at Charterhouse Bank and a Non-Executive Director of an investment fund and an insurance company.

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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