Stuart Goulden
Malcolm Hayday, chief executive and one of the founders of Charity Bank, has decided to step down from the post after 19 years to hand over the reins to a successor. Under Mr Hayday’s leadership, Charity Bank has grown from concept to launching as the world’s first general registered charity that is also an authorised bank.
Charity Bank has its Northern headquarters in York and this year is celebrating its 10th anniversary. Positioning itself as “a different bank for people who want a different world”, its growing popularity has seen one fifth increase in deposits over the past year, which now exceed £80 million. Under Hayday’s stewardship, this has grown many multiples of the opening figure of £6.4 million in 2002. In its first 10 years under Mr Hayday’s leadership, Charity Bank has made more than 1,000 loans, reached a further 1,000 with business support and touched the lives of 3,500,000 people in communities across the UK.
By depositing with Charity Bank, your money is not only safe but invested “where it is most needed: an investment in good rather than just a good investment.”
Malcolm Hayday is one of the pioneers of social finance. Hayday joined the Charities Aid Foundation (CAF) in 1993 to explore the possibility of loan finance as a new resource for the charity sector. In 1995 Mr Hayday started Investors in Society, a successful pilot loan fund, before overseeing its formal incorporation as Charity Bank in 2002. His work with CAF, followed by the successful launch of Charity Bank as the world’s first general registered charity that is also an authorised bank. It is a movement in “better” banking that is looking to spread with the launch of Move Your Money last week – campaign to encourage the nation to switch to banks with ownership structures and business strategies that are more geared towards benefiting people, communities and the environment.
“After 19 years of establishing and growing the Charity Bank model to the point of profitability, I believe now is the right time for me and the right time for Charity Bank, to hand over the reins to a successor who can take the bank to new heights, ” commented Mr Hayday. “I am extremely proud of Charity Bank’s achievements, as we have developed a unique banking model that responds to real social needs by financing charities and social enterprises. As I step down, Charity Bank is well-positioned for sustainable growth. I have no doubt that this is the most exciting and satisfying job in banking. I have agreed to stay on until the right successor is found.”
George Blunden, chairman of Charity Bank, commented; “Malcolm has secured his place in the history of social finance and we thank him for leaving us with a thriving organisation. His dogged determination to realise the vision of a bank from and for the charity sector has brought about change in the way charities are financed. That change is now gathering speed; the social finance sector has a key role to play as the economic outlook remains challenging. We wish Malcolm well as we begin our search for the leader who will take forward and build upon the strong foundations Malcolm has laid.”
Charity Bank will begin the recruitment process for a new chief executive with immediate effect.
