British Business Bank appoints four new non-executive directors

The British Business Bank has strengthened its governance team with the appointment of four new non-executive directors and the reappointment of its Chair, as it continues to expand its role in supporting smaller businesses and mobilising investment into the UK economy.

Effective from 1 July 2026, the Bank has appointed Kerry Baldwin, Ruth Handcock and Robin Murray as Non-executive Directors to the board of British Business Bank plc. Piers Lowson has also joined the board of BBB Investment Services Limited. Each appointment is for an initial three-year term.

The Government has also confirmed the reappointment of Stephen Welton as Non-executive Chair of the British Business Bank for a second three-year term, beginning on 5 October 2026.

The appointments come as the Bank implements its new five-year strategy, which includes deploying more capital, encouraging greater institutional investment into UK venture capital and supporting the growth of smaller businesses across the UK’s nations and regions.

Kerry Baldwin brings nearly three decades of venture capital experience as Co-Founder and Managing Partner of IQ Capital, a specialist deeptech investment firm managing approximately $1 billion of assets.

She has invested across sectors including defence, cybersecurity, artificial intelligence, neurotechnology and financial technology, while also playing a prominent role in shaping UK innovation and investment policy.

Commenting on her appointment, Baldwin said she was delighted to join the Board at a time when the Bank was delivering an expanded mandate to support ambitious UK businesses.

She added: “I recognise the significance of this responsibility and look forward to supporting the British Business Bank as it delivers its expanded mandate, encouraging greater institutional investment while backing the growth of the UK’s exceptional innovation ecosystem.”

Ruth Handcock joins the Board following senior leadership roles across UK financial services, most recently serving as Chief Executive of Octopus Money, where she helped build a £5 billion assets under management business focused on widening access to financial advice.

She also serves as a non-executive director at Aldermore Bank and investment platform Seccl.

Handcock said the Bank’s new strategy represented a significant opportunity to help more businesses access finance and scale within the UK.

“I’ve spent my career trying to make financial services work better for more people, and I’m looking forward to bringing that perspective to bear at a time when the Bank has both the mandate and the firepower to make a real difference,” she said.

Robin Murray brings more than 30 years’ experience spanning Silicon Valley entrepreneurship, venture capital and growth equity investing.

He is currently Head of Growth Equity at Adams Street Partners, where he oversees investments across technology, healthcare, artificial intelligence, fintech and semiconductor businesses.

He said he looked forward to helping the Bank continue to foster entrepreneurship, innovation and long-term economic growth across the UK.

Meanwhile, Piers Lowson joins the board of BBB Investment Services after a career spanning more than 35 years in investment banking, asset management and institutional capital raising.

Most recently a director at Baillie Gifford, he will support the Bank’s efforts to attract greater institutional investment into UK venture capital through initiatives such as the British Growth Partnership.

Lowson said there was growing momentum behind the Bank’s mission to mobilise institutional capital for innovative UK businesses and that he looked forward to contributing to the next phase of its development.

Welcoming the appointments, Chair Stephen Welton said the Bank had significantly expanded in scale, profile and risk appetite over the past two years.

“These appointments strengthen the breadth of experience around the table, given their prior roles, as we continue to scale the Bank and deliver on our ambitions to drive growth across the UK,” he said.

Reflecting on his reappointment, Welton added that the Bank remained focused on delivering its five-year strategy and ensuring more businesses could access the finance needed to “start, scale and stay in the UK.”