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Patrick Magee to stand down as Chief Commercial Officer and Executive Director of the British Business Bank in June 2022 after 10 years’ service

Press release 10 February 2022

Patrick Magee has announced that he will be standing down from the role of Chief Commercial Officer and Executive Director of the Government-owned British Business Bank in June 2022 after 10 years’ service.

Patrick was appointed to the Shareholder Executive in June 2012 where he worked on the design and establishment of the British Business Bank.  He was made Executive Director and Chief Operating Officer of the Bank in October 2014 at the time of the Bank’s establishment.

In June 2017 he was made Chief Commercial Officer. Patrick is responsible for the leadership and strategic direction for three of the Bank’s business units including Venture Solutions, Guarantee and Wholesale Solutions and Start Up Loans.

Patrick has been an outstanding member of the British Business Bank’s Board and senior leadership team, helping to build the organisation from scratch to one with considerable scale and impact today. Patrick leaves behind an impressive legacy which, for years to come, will continue to support start up and scale up businesses across every region and nation of the UK.

 

Since March 2020, Patrick has led the Bank’s Covid-19 response for smaller businesses on behalf of government, delivering the Coronavirus Business Interruption Loan Scheme (CBILS), Coronavirus Large Business Interruption Loan Scheme (CLBILS) and the Bounce Back Loan Scheme (BBLS). I would like to thank him for his commitment over the last 10 years, and I look forward to his ongoing contribution until June and wish him well in the next phase of his career.

- Catherine Lewis La Torre CEO, British Business Bank

It has been a great privilege to be part of the team that established the British Business Bank in 2012 and has been responsible for its subsequent growth. Our goal was to build an institution that delivered the right finance to help smaller businesses succeed across the UK by increasing choice and reducing regional imbalances in access to finance. We now support over 1.6 million smaller businesses with more than £80 billion of finance through our programmes.

 

Late last year I discussed with the Board my desire to focus on the next phase of my career and have agreed that I will spend the time to June executing on and transitioning my responsibilities.

- Patrick Magee Chief Commercial Officer

Before joining the Department for Business, Innovation and Skills’ Shareholder Executive in June 2012 and the British Business Bank, Patrick was a Managing Director of corporate finance at JP Morgan Cazenove, having worked at the predecessor firms for almost 18 years.

Patrick has an MBA from Georgetown University, Washington DC and an LLB from Queen’s University Belfast. He is a Non-executive Director of International Biotechnology Trust plc and a member of the Investment Committee at Queen’s University, Belfast.

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