OakNorth Bank

OakNorth announces additions to board

OakNorth Bank has appointed Navtej S Nandra and Edward Berk as non-executive.

Navtej was formerly the president of E*TRADE Financial Corporation, an online US brokerage firm with over $300bn (approximately £231bn) in customer assets.

Prior to E*TRADE, Navtej was CEO of Morgan Stanley Investment Management Ltd and served on the boards of Morgan Stanley Huaxin Fund Management Company, Morgan Stanley International, Nuveen Investments and Merrill Lynch India Technology Services.

Navtej has also held roles at DTZ Holdings, Merrill Lynch Global Wealth Management, Merrill Lynch Global Investment Banking, the Cambridge Group and Booz Allen Hamilton.

Since the late 1990s, Navtej has worked closely with the management team of India-based Edelweiss Financial, where he’s helped enhance business diversification and resilience, while accelerating growth and achieving a current market capitalisation of over $2.2bn (approximately £1.7bn).

Currently, Navtej serves on the boards of Edelweiss Financial Services, Edelweiss Tokio Life Insurance Company, the Centre for Governance, Institutions & Organisations and the Centre for Asset Management Research & Investments.

He is also a distinguished visiting fellow at the National University of Singapore.

Navtej’s appointment to the role of senior independent director and head of the audit committee is subject to approval from the PRA.

Navtej said: "I have been very impressed by how quickly OakNorth has established itself as a leading contender in the UK market, and the discipline by which business is conducted.

“I look forward to working closely with the team as we continue the growth trajectory and achieve scale in the UK financial services landscape.”

Edward is a faculty member of the finance unit at Harvard Business School, where he graduated with an MBA as a Baker scholar and Siebel scholar in 2001.

In 2016, Edward retired as managing director of Bain Capital – an alternative investment firm – after spending nearly 20 years as a private equity investor.

At Bain Capital, Edward held a number of leadership roles, including coordinating the European investment committee.

His primary focus was on private equity investments, supporting consumer-facing businesses in Europe, but also worked across several other markets, including North America, South Africa and Japan. 

"OakNorth’s market position gives it the opportunity to have a deep and lasting impact on the underserved market it is focusing on,” said Edward.

“Entrepreneurs and growing businesses in this country need and deserve this kind of financial partner to support them.

“As it goes into its next growth phase, it will face a new set of challenges and I am delighted to be able to contribute.”

Rishi Khosla, CEO and co-founder of OakNorth, added: "Both Navtej and [Edward] have exceptional track records in growing and leading renowned, international businesses.

“Their diverse and broad experience will be invaluable as we continue to build OakNorth and solve the challenges of the lending market.”

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