This is the second senior hire at the bank this month, following the announcement of new CEO Peter Horton. 

Jerold most recently held the position of chief risk officer at Union Bank, and has previously worked in the same role at Permanent TSB Dublin and the Commercial Bank of Qatar. 

Prior to this, he spent 18 years within Lloyds Banking Group.

Having worked with many multinational senior leadership teams, he has embedded and improved effective policies and helped to improve firms’ regulatory compliance, credit and overall risk management.

“My experience has allowed me to work within multicultural institutions all over the world,” Jerold said.

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Jerold will oversee a team of almost 30 people at Al Rayan Bank, and will also support the executive team to ensure risk management is as integrated and supported as possible.

He will cover all areas of risk, including regulatory compliance and credit, through to treasury and operational risk.

He stated that he would be working closely with his colleagues in the executive team and across all levels of the sharia-compliant bank to continue to develop and adapt its risk policies in a market that is “fast-paced and unpredictable”.

CEO Peter Horton added that Jerold would bring “comprehensive expertise of working in large, complex organisations”. 

“With this appointment, Al Rayan Bank will have greater capacity to drive and enhance our strategies while ensuring the development of regulatory compliance and risk structures.”

The bank currently serves over 90,000 customers and has an asset book in excess of £2bn.