British Business Investments, a commercial subsidiary of the British Business Bank, has promoted Adam Kelly to managing director following the retirement of Peter Garnham.
Kelly will start as managing director on 1 November. He was previously director of British Business Investments’ structured capital solutions portfolio where he led investments in challenger banks.
He built his career in corporate finance with investment banks, Dresdner Kleinwort and JP Morgan Cazenove before becoming involved in the delivery of publicly funded finance products.
Kelly joined the bank in 2013 as a senior manager in the investment programme, which became part of British Business Investments when it was launched in 2014.
“Adam is a highly valued leader with more than 23 years’ corporate and investment banking experience, including successfully leading British Business Investments’ key structured capital solutions product area and investments in challenger banks over the last seven years,” said Judith Hartley, chief executive of British Business Investments.
“I am delighted that he has agreed to take on the role of managing director of British Business Investments, and look forward to working with him as we support the UK’s economic recovery.”
In August, Hartley was named as interim chief executive of British Business Investments and another of the bank’s commercial subsidiaries, British Patient Capital.
From 1 September she replaced Catherine Lewis La Torre, who has recently been appointed chief executive of the British Business Bank.