has announced the appointment of Malcolm McCaig to its Board as an independent non-executive director, with the intention he will chair the Board's Risk and Conduct Committee.
Malcolm has a portfolio of non-executive director roles in financial services, including three major insurance companies and a tier 1 metals broker. He is also Chairman of one of the UK's top 100 charities.
Malcolm brings to Masthaven a diverse range of experience in risk, regulation, audit, strategy, corporate governance and technology. A former partner of both Deloitte and Ernst & Young, his career includes executive positions in Clydesdale Bank and Prudential UK, as well as secondments in Nigeria and Mexico.
Malcolm McCaig, Independent Non-Executive Director at Masthaven Bank, said:
“Masthaven is a leading specialist bank and I am hopeful that I can make a positive contribution to the bank's continuing development. The pandemic has increased the challenges facing all financial institutions, but beyond those challenges lie opportunities as the economy and the housing market recovers. Masthaven’s continued investment in its business, underpinned by its investment in risk management and conduct, illustrates the importance of doing the right thing and doing it well.”
Outside of financial services, Malcolm has a lifelong passion for astrophysics, having studied it at the University of Glasgow. He began his career as a physicist before moving into management consultancy.
Ashley Machin, Chairman, Masthaven, said:
“I’m delighted to welcome Malcolm to Masthaven Bank. He brings a wealth of experience in a variety of financial roles and the maturity and breadth of this experience will provide real value to the board. We welcome Malcolm’s insights and expertise as Masthaven continues to refine and develop its lending and savings activities.”
Malcolm’s position as chair of Masthaven’s Board Risk and Conduct Committee is subject to regulatory approval by the Prudential Regulation Authority and the Financial Conduct Authority.
About Masthaven Bank
Masthaven launched as a retail bank in 2016 and offers award-winning saving and lending products. Prior to that, Masthaven Finance has provided a flexible and personalised approach to bridging loans and secured lending since 2004. Today, the bank’s knowledgeable and experienced specialists are committed to providing customers with flexible and fixed term savings accounts, bridging loans, development finance and mortgages. Masthaven was recognised as 2019’s Most Innovative Digital Retail Bank UK by CFI, the second consecutive win for the category. Masthaven won Best Second Charge Mortgage Lender in the Your Mortgage Awards 2018/19 and Customer Service of the Year in the Money Age Mortgage Awards in 2019. It was also awarded Best Specialist Lender in the Moneynet Personal Finance Awards 2019. Masthaven Finance has featured in 2015’s The Sunday Times’ Virgin Fast Track 100 (at number 81) and the bank ranked 240 in Financial Times’ FT1000 list published in 2017. The bank is regulated by the Financial Conduct Authority and Prudential Regulation Authority.
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