UK challenger Alba Bank has appointed Michael Mustard as general counsel and company secretary ahead of its planned market entry.

Having been granted its banking licence by the UK Prudential Regulatory Authority PRA and the Financial Conduct Authority in early 2023, the Scottish neobank has spent the past year building out its team, operations and infrastructure, preparing for market entry in 2024.

Alba Bank was established to provide commercial finance to UK SMEs which remain underserved by mainstream banks.

Mustard joins Alba Bank from Aldermore Bank where he was interim general counsel.

He brings more than 15 years’ experience in banking legal teams having previously held roles at Tesco Bank, RBS, and Citi.

Mustard also trained in accountancy at PwC and as a lawyer at Brodies LLP and Allen Overy.

“The appointment of Michael will further strengthen the Alba leadership team at a critical stage in the bank’s journey," said Rod Ashley, chief executive, Alba Bank. "We’ve a team with the right experience, ambition and values to deliver a new challenger bank aimed at supporting SMEs to achieve their true potential."

Ashley added: “Michael is a very experienced operator in the legal and banking sectors, and his expertise and guidance will be invaluable as we grow Alba Bank post-launch and meet the lending needs of the UK’s SMEs.”

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