North East born leader of British Business Bank to step down

Louis Taylor is stepping down as chief executive of the British Business Bank at the end of September

The Newcastle-born CEO of the British Business Bank has announced he is stepping down from the role this year. Louis Taylor, who attended the Royal Grammar School in Newcastle, is stepping down at the end of September 2026 after four years leading the transformation of the UK’s economic development bank.

He will remain as chair of BBB Investment Services Limited, the Bank’s third-party arm, until the end of December 2026. A recruitment process to identify his successor will launch soon. David Hourican, the Bank’s chief financial officer will take on the role of interim CEO from October 1.

Under Mr Taylor’s leadership, the British Business Bank secured a landmark mandate from Government backed by £25.6bn in increased financial capacity, and introduced an ambitious five-year strategy to drive UK growth.

He said: “It has been a huge privilege to lead the British Business Bank over the last four years by setting a clear and ambitious vision. The Bank now has a comprehensive strategy to deliver that vision, increased flexible financial resources, a simplified operating model, a highly capable team and a customer focused culture. It is a far more agile and effective organisation.

“I am proud of the team of professionals I have worked with and the capability we have built, which provides my successor with more firepower and the opportunity to execute the Bank’s Five-year Strategic Plan at a crucial moment for the UK’s smaller and most innovative businesses.”

Peter Kyle, Secretary of State for Business and Trade said: “Louis Taylor has been an outstanding CEO of both the British Business Bank and UK Export Finance. His leadership has paved the way for countless businesses to hire more, boost wages and grow right across the UK.

“I would like to thank him for his bold vision during his 11 years of public service, and his continued commitment to backing UK economic growth.

“I am confident the next phase of the Bank will give UK innovators the bold backing they need to transform ambition into success.”

Stephen Welton, chair, British Business Bank, added: “Louis has been an outstanding leader of the British Business Bank, taking the Bank from the role of market participant at the end of the pandemic to more of a market leading position today with a platform that can deliver at scale going forward.

“As we enter our new five-year planning cycle, the increased financial capacity, greater financial freedoms and flexibilities that Louis has secured, and ongoing momentum leave a strong legacy. This puts the Bank in a stronger position to continue to evolve and deliver on the ambitions we set out in our Five-year Strategic Plan and the government’s growth mission.”