Ex-Daily Mail comms boss joins challenger bank in top corporate affairs role

Challenger bank Cashplus has appointed Alex Moorhouse as corporate affairs director.

Moorhouse (pictured), who has advised Cashplus as a consultant for the past 12 months, previously held a range of corporate communications roles including group head of communications at DMGT, the parent company of the Daily Mail.

In addition, he worked at InterContinental Hotels Group, and as a freelance journalist for a range of regional and national outlets.

In his new position Moorhouse will oversee CashPlus' media and public-affairs strategy as well as leading the company's corporate development and investor-relations activities with founder and chief executive Rich Wagner.

"Developing and strengthening our reputation is a major focus as we prepare to become a bank, raise our profile and build closer relationships with policymakers and the investment community," said Wagner.

The company launched in 2005 and earlier this year reported revenues of £45.6m – its eighth year of operating profit.

It has focused on providing digital banking and lending services for small businesses and start-ups, but in August this year submitted its final banking licence application and hopes to be fully authorised in Q1 2020.

Once approved, the bank will hold about £400m of lending capital and will increase its lending through new and existing SME and consumer credit products. The company currently holds a seven percent share of all new UK business accounts.

Moorhouse said: "Cashplus has managed the rare feat of delivering profits in a sector where others are haemorrhaging money and has enormous growth opportunities post-bank licence. I think that's a story worth telling."

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