The British Business Bank has appointed Catherine Lewis La Torre to take over as interim chief executive when the incumbent Keith Morgan stands down on 1 September.
La Torre currently holds the position of chief executive of the state development bank’s two commercial subsidiaries, British Patient Capital and British Business Investments.
She built a career in venture capital and private equity fund management before joining the British Business Bank in 2016.
Outgoing chief executive Morgan was appointed in January 2013 to lead the design and establishment of the Bank and took on the top role in December 2013. He announced his departure in October 2019.
Since its inception, the Bank has supported more than 94,000 businesses with more than £7.7bn of loans or investments through its various programmes including partnerships with peer-to-peer lenders.
British Business Bank chair Lord Smith described Morgan as an “outstanding leader” and said La Torre has a “a strong track record of success.”
“She has successfully led the Bank’s commercial subsidiaries, British Patient Capital and British Business Investments and has made a considerable contribution to the Bank since she joined in 2016,” he said.
“I am delighted that she has agreed to take on the role of interim chief executive and look forward to working with her as we support the UK’s economic recovery.”