The appointment is subject to regulatory approval, but should that be granted Collyer will take up his new role in December 2020. At this point the bank’s current chief risk officer, Clive Gavin will retire.

Collyer is currently risk director at Virgin Money, and has been with the business since 2015. Before Virgin he held a variety of risk-based roles at GE Capital, as well as a stint at HSBC in both the UK and France.

Matthew Wyles, chief executive officer at Hampshire Trust Bank, said the lender’s ongoing success was underpinned by a strong risk culture.

He continued: “Paul Collyer has an impressive track record with a broad palette of experience across the whole waterfront of risk disciplines. Having spent the last twenty years working with global banks, challenger banks and leading non-bank financial institutions, he has deep knowledge of Hampshire Trust Bank’s key lending classes and is a perfect fit for us. I’m really looking forward to working with him.”

Collyer added that the specialist lending sector is the “most dynamic” segment of the UK market, and described Hampshire Trust Bank as “an outstanding player” in that market.

“I am really looking forward to joining the strong team in place and contributing to the achievement of Hampshire Trust Bank’s exciting growth plans,” he concluded.