Carter has been head of treasury at several banks and mutuals, as well as holding executive roles with responsibility for operational risk and compliance.

He was director of treasury solutions at financial services company King and Shaxson, supporting challenger banks including Shawbrook, Paragon and Masthaven as they obtained their banking licences.

Jason Oakley, chief executive of Recognise Bank, said: “Treasury is such a vital function for a bank like Recognise that has to balance the demands of both lending and savings, so I am delighted that we have someone of the calibre of Dean with us, and in particular the wealth of experience and expertise he brings to the role.”

Carter added: “I’ve enjoyed working with Recognise as it has moved through those critical milestones to become a fully-fledged SME bank, so I am delighted to be onboard permanently.

“I’m looking forward to helping shape the bank as it grows and brings on stream more products and services, such as business savings.”