Philip Hammond

Philip Hammond joins OakNorth's advisory board

Former chancellor of the exchequer Philip Hammond (pictured above) has joined OakNorth's advisory board as an independent adviser.

Hammond will work with the specialist bank’s clients and senior policymakers around the world focusing on lending to SMEs.

Before becoming a politician, Hammond ran an SME housebuilding business and as chancellor led a pro-business agenda.

“We set up OakNorth because of the challenges we experienced in securing finance from commercial banks when trying to scale our first business — challenges that Philip himself experienced as an SME housebuilder,” said Rishi Khosla, co-founder of OakNorth.

“He brings both an international perspective, having worked with finance ministers across the globe, as well as a deep understanding of the British economy.”

Hammond added: “OakNorth is the flagship of the UK's vital and fast-growing fintech sector — attracting record levels of investment and generating sustainable profits while bringing much-needed change to an underserved area of the banking market.”

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