Allica Bank, the SME-focussed challenger bank, is growing its specialist care home commercial mortgage banking team with the appointment of Brian Bovell, as Specialist Relationship Manager. Brian will spearhead the bank’s expansion into Scotland and the north of England’s elderly care sectors.
This appointment follows the bank’s launch of a specialist care home team at the end of last year, designed to specifically support independent or small group operators as the market readjusts from the pandemic. In March, Allica also announced it was doubling its maximum commercial mortgage customer exposure for care home customers to £10 million, intended to enable more operators to strengthen and scale their businesses.
Brian brings with him more than 20 years’ specialist banking experience, with extensive knowledge of the healthcare and care home sector. This experience is essential for this market, he says: “This is a heavily regulated industry that faces unique challenges – it’s important that brokers and their clients can speak to someone at a bank that understands the everyday pressures faced by those businesses operating within it.
“The pandemic has compounded many of these issues and has shaken up a long under-invested sector. I’m delighted to join Allica and give care home operators in Scotland and the north of England access to the expertise they need to recover and grow.”
Nick Baker, Chief Commercial Officer at Allica, says that smaller firms often struggle to get finance compared with larger operators: “With an aging population it is so important that we encourage growth and expansion in the industry, and don’t marginalise such a significant part of the sector.