The plans will see the roll-out of its proposition for small and medium-sized enterprises (SMEs) in the commercial real estate sector, once full regulatory approval is received. 

In Cowan’s new role, he will oversee the financial performance and sustainability of the bank as it moves from new entrant to scale-up. 

The business is currently advanced in discussions with investors and aims to complete a funding round by the end of 2022, a process Cowan is leading.  

Cowan, who also joins Ashman’s board of directors, will have responsibility for the bank’s response to climate change.

He joins from DNA Group, having been group chief financial officer and part of the executive team helping develop the new payments provider. 

Previously, he has also served as the chief financial officer of other start-up challenger banks as well as chief financial officer of the London Metals Exchange. 

He has also held roles at RBS, HSBC and Deutsche Bank. 

Ashman Bank chief executive officer James Leech says: “To deliver on our mission to do banking differently for SMEs in the commercial real estate sector, we need a senior team made up of people who bring far-reaching insight and experience that will enable us to design something truly different. Matt undoubtedly fits that bill and I am excited to have him on board as chief financial officer.”