By Aisling Finn on Wednesday 10 June 2020
Lewis La Torre will work together with current CEO Keith Morgan until the end of the year to ensure a seamless transition.
The British Business Bank (BBB) has today revealed that Catherine Lewis La Torre will step into the role of interim CEO following current CEO Keith Morgan leaving at the end of 2020.
Lewis La Torre is already the CEO of the BBB’s commercial subsidiaries, British Patient Capital and British Business Investments (BBI).
It was announced back in October 2019 that Morgan would leave his role at the end of 2020 following eight years at the helm of the financial institution.
Morgan worked closely with the design and establishment of the Bank, and was made BBB’s first CEO back in December 2013.
Morgan’s successor, Lewis La Torre, has over 30 years experience in venture capital and private equity fund management and joined BBB in 2016 from Cardano Risk Management, where she was Head of Private Equity.
Lord Smith, chair of the British Business Bank, said: “Under [Morgan’s] leadership, the Bank has supported start-ups and growing companies in every region and nation of the UK and has responded at speed to build a series of large scale loan programmes to help UK businesses get through the Coronavirus emergency.”
On the appointment of Morgan’s successor, Lord Smith said: “I am delighted [Lewis La Torre] has agreed to take on the role of Interim CEO and look forward to working with her as we support the UK’s economic recovery.”
The appointment of an interim CEO will help the government to navigate the next steps in the Bank’s development before finding a permanent replacement.
Throughout lockdown, the BBB has helped to facilitate nearly £35bn in loans to over 830,000 businesses feeling the coronavirus-related pinch on the purse strings.