Recognised for its unique approach to lending, the bank has gained traction in its mission to support the UK’s “missing middle,” established small-to-medium enterprises (SMEs) often overlooked by traditional banks and lenders.

The bank is geared to help entrepreneurs with various financial needs including growth, mergers and acquisitions, management buy-outs or buy-ins, working capital and more.

Matteas Law

Appointing Fraser McPhail as a new senior director of debt finance and Matteas Law as associate debt finance director, both with significant experience from their time at Cynergy Bank and Santander in Edinburgh.

Head of debt finance at OakNorth Bank, Ben Barbanel, said: “We’re delighted to open our new office in Glasgow and we welcome both Fraser and Matteas to the team. Scotland is an integral part of OakNorth’s growth strategy, hence the decision to get people on the ground there.

“We never wanted to be ‘day-trippers’, doing deals from afar, and having regional experts situated in the local market will help us deepen our support for Scottish businesses. We want to be targeting strong entrepreneurs, and profitable businesses with strong and experienced management teams that have been through multiple cycles.

Mr Barbanel continued: “We continue to see a huge opportunity in Scotland from businesses keen to pursue their growth ambitions, and because most incumbent banks and alternative lenders have been retrenching from lending, this has only been compounded.

“We therefore see it as an opportunity to step up to the plate and support businesses in the region at a time when others may be unwilling or unable to.”

The bank has proven its ability to support the “Missing Middle” market, lending more than £886 million to UK businesses in the first half of this year, and around £11 billion in total. The bank is now aiming to become a significant player in Scotland’s financial scene, driving economic growth through its unique lending approach to the country’s thriving SME sector.