Jason co-founded the bank alongside deputy CEO Bryce Glover in March 2017 to provide specialist finance for UK SMEs, commercial property owners, and professional practices.

Recognise Bank received its full banking licence in September 2021.

Following the announcement, Bryce has been appointed as interim CEO with immediate effect, while the board begins the process of selecting a new CEO.

The bank has also revealed its plans to create a dedicated innovation hub, leveraging its existing technology infrastructure to develop new and improved products and services, create new revenue streams, and help to deliver cost efficiencies.

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Commenting on his departure, Jason said: “It has been a privilege to lead Recognise Bank over the past five years and I am immensely proud of what we have achieved, creating a new kind of bank for the UK’s SMEs and proving that our digitally enabled relationship banking model can be a success.

“Having achieved all of this, now is the time to hand the baton over to a new CEO who will lead Recognise Bank into its next phase. 

“I wish the bank well and would like to thank the colleagues I have worked with over the past five years.”

Philip Jenks, chairman at City of London Group, Recognise Bank’s parent company, added: “We have already built a successful new bank for the UK’s SMEs. 

“The acceleration of Recognise Bank’s digital programme will ensure the bank remains strong as we enter the next exciting chapter, using our technology and innovation to develop new opportunities.

“On behalf of the board, I would like to thank Jason for being the driving force for Recognise Bank from day one, developing the vision we have followed to create a successful commercial lending and personal savings provider.”