Project New Bank, the vehicle being set up by Lord Levene to establish through acquisitions a significant share of the UK’s retail and SME banking market, has been working with Pelham Bell Pottinger to handle its communications.
The Pelham Bell Pottinger team of James Henderson, Olly Scott and Sam Boston, has been advising the venture since June.
Project New Bank is being supported by a group of leading investors who are attracted to the concept of a UK-only retail and SME corporate banking business, the like of which investors cannot currently gain exposure to.
The venture intends to list on AIM within the next few weeks with a small initial fund raising of c.£50 million. The Company will then seek to make a significant transaction for a tranche of retail banks which it intends to achieve by undertaking a further fundraising and moving to the Official List.
The new venture will offer a traditional branch banking experience to its retail and SME corporate customers, alongside a web-based service and later, wealth management services. It will not engage in international or investment banking activities and will focus only on the UK market.
Pelham Bell Pottinger’s Managing Director, James Henderson, said: “The rationale to create a major new UK focused retail and SME corporate bank is compelling. Project New Bank will bring a much needed new service-orientated approach to high street banking and we are delighted to be working on such a fantastic venture.”
ENDS
For more information:
Olly Scott
Pelham Bell Pottinger
Tel: 020 7861 3891
Email: oscott@pelhambellpottinger.co.uk
Notes to Editors:
About Pelham Bell Pottinger
Pelham Bell Pottinger is the financial and corporate communications arm of Bell Pottinger, which is the UK’s largest public relations company and helps more than 900 clients in 55 countries. Led by 30 senior consultants, we provide our clients with a completely integrated portfolio of communications services – blending research and analysis with digital and television skills as well as media, political and investor relations.
We are among the City of London’s top three business communications consultancies, as measured by the number of clients listing on the London Stock Market.
Bell Pottinger is part of Chime Communications PLC.
Drawing upon the skill, depth and sector-specific experience across the Pelham Bell Pottinger team, we work across all key market sectors. Our clients include world class brands, FTSE 100, AIM listed and private businesses in every major sector, international companies, sovereign wealth funds, governmental bodies and regulatory bodies.
Pelham Bell Pottinger
Tel: 020 7861 3232
www.pelhambellpottinger.co.uk
