Charity Bank will cease to be a charity but will keep charitable mission
Tags: Banking
Malcolm Hayday
Malcolm Hayday has been chief executive of Charity Bank since 2002. In February 2012 he annoucned his intention to step down but will remain in post until a successor is found. In October it was announced that Partrick Crawford will take over from him in November.
Since 2004 he has also been a director of INAISE, a global network of social finance organisations based in Brussels.
Before joining Charity Bank he was director of community finance and the Charities Aid Foundation.
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Charity Bank is to relinquish its charitable status in order to comply with new European banking regulations and allow it to attract more capital.
Charity Bank has appointed Patrick Crawford, head of the government's export credit agency, as its new chief executive.
Charity Bank has appealed to the Charity Tribunal against a decision by the Charity Commission not to let it change its governing documents so it can comply with banking rules.
A survey commissioned by Charity Bank has found that more than 20 per cent of charities have suffered from the cancellation of contracts with businesses and government bodies during the last year.
Investing for Good, the social investment outfit that is behind the Scope charity bond, is to pursue a merger with the Social Investment Business after a proposed merger with Charity Bank fell through.
Malcolm Hayday has announced his intention to step down from Charity Bank, the social finance institution that he helped to set up ten years ago.
Charity Bank and its largest shareholder Charities Aid Foundation say they have considered but ruled out merging the bank with CAF Bank.
The Charity Commission is considering a request by Charity Bank to change its governing documents to allow it to distribute profits to its charitable shareholders, a decision that could have wider implications for all charitable companies.
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