A WARRINGTON specialist business bank is toasting a sixth successive victory with a key industry award.
Redwood Bank has won the Business Moneyfacts trophy for Best Business Variable Rate Deposit Account Provider for the sixth time at a London ceremony.
The bank, which was founded in 2017 and is part-owned by Warrington Borough Council, has won this accolade every year since 2019.
Stuart Davidson, the Bank’s Director of Products and Strategy, said: “Six years in a row demonstrates longevity and consistency which, is arguably as important as the specific accolade.
“Backing British businesses is what we’re all about, and our team works so hard to support them. So many of our customers are the small and medium-sized businesses upon which the UK economy is built. Providing products that help them achieve their business goals is what we’re all about.
“Winning this award for six straight years is a remarkable achievement, and it means so much for our colleagues to be recognised like this at such a special occasion. We are beyond proud and we very much hope we can do it again next year.”
Redwood was also shortlisted for two other awards – Best Business Fixed Account Provider, which it won in 2020, and Best Service from a Commercial Mortgage Provider.
The Business Moneyfacts Awards attract entries from across the banking sector, with Redwood Bank joined as winners on the night by high street names including Santander, Lloyds and NatWest. Representatives from the bank were among more than 700 people at Evolution London for the ceremony.
Redwood’s parent company, Redwood Financial Partners, is this year hoping to complete the reverse takeover of R8 Capital Investments plc, a company listed on the London Stock Exchange.
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Meanwhile the Financial Times reports on WBC’s relationship with Lee Robinson, described by the FT as “a Monaco based financier whose interests have become unusually entwined with the Labour-run council”.
£120 million of WBC’s investments have links to this individual, whom I’d never heard of before the FT article, though it quotes a council employee likening him to Lionel Messi.
According to the FT “Those investments include a heavily impaired £30 million stake in a challenger bank, more than £40 million in property funds managed by M7 and a further £47 million in often-opaque investment vehicles at Robinson’s own firm”.
I know I’m not the first to observe this but . . . our councillors and officers do appear to have been naive in their investment activities.
The comments below the FT article tell their own story. Lots of FT readers who just think we’re fair game for being so dim.
Perhaps they’re right.