Afin Bank appoints former regulator to its board

By Bridging Loan Directory 18th November 2024

Afin Bank has appointed David Kenmir as an Independent Non-Executive Director (INED), bringing over 30 years of financial services experience and expertise to its Board.

Kenmir spent more than ten years at the Financial Services Authority (FSA), the forerunner of both the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA), including a stint as the body’s Chief Operating Officer.

He subsequently spent 14 years at PwC as a Partner focussing on Conduct and Culture, in its Financial Services Risk and Regulatory Practice.

He brings his wealth of experience of governance and compliance to the new digital bank, which has been set up to help foreign nationals living and working in the UK to get mortgages and savings accounts.

Kenmir said:

“I am delighted to be joining Afin Bank at the start of its journey, helping to shape a financial services provider that genuinely wants to do things differently and make mortgages accessible to a vital group of consumers who are currently poorly served in the UK.

From my experience with the FSA, as well as advising new and established businesses at PwC, I bring a unique perspective on the commercial and regulatory challenges and regulatory requirements facing new banks.

I look forward to working with Afin Bank to help build its strategy and operate effectively in the UK’s highly regulated environment.”

In his time with PwC Kenmir worked with traditional financial services providers through to fintech start-ups. He also led PwC’s work on the implementation of the FCA’s Consumer Duty and was a member of the ICAEW’s Conduct Risk Committee.

Jason Oakley, Afin Bank’s CEO, said of Kenmir’s appointment:

“This is an important addition to what is already a highly skilled and experienced Board at Afin Bank.

David’s knowledge and insight will be invaluable as we prepare Afin Bank for full launch next year.”