Chris Waring promoted to CEO of JN UK after Step One Money takes stake
JN Bank UK, subsidiary of The Jamaica National Group, has promoted its managing director of banking, Chris Waring, to the position of CEO.
Waring previously assumed the role of acting CEO upon the departure of Paul Noble, who had led the subsidiary for nearly two years before joining Chetwood Bank as CEO in September 2024.
JN Bank is part of the Jamaica National Group, once known as the Jamaica National Building Society (JNBS). As chronicled on the company’s website, Jamaica National Group has been operating in the UK since 1988.
The satellite office originally existed to support opening accounts, loans to buy Jamaican property, and transferring of UK pensions. Subsequently, JN Bank UK received the required regulatory approvals from the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) in December 2019. In October of this year 2020 it fully launched to the UK market with a range of personal savings accounts and unsecured personal loans.
In October 2024 Jamaica National Group has secured £20 million for its UK bank through Step One Money UK Limited, which then acquired a significant stake in the bank. Step One Money UK is backed by a team of investors targeting UK financial services and specialist lending.
JN said that its aim was to deepen participation in unsecured retail lending, asset acquisition, and established savings products and services.
At the time there are also changes in the leadership of JN Bank UK with the appointment of Colin Mander to executive chairman, and Chris Waring to managing director.
New CEO Chris Waring joined JN Bank in early 2023 as Chief Commercial Officer bringing coming with significant experience in financial services. He is credited with developing Honeycomb Finance and then the sale of the business to Allium Money and ultimately to Tandem Bank in 2020. As Commercial Director at the 118 118 Group, Waring also helped launch the 118 118 Money brand and business.
Following the previous CEO’s departure, Chris has now been appointed to lead JN Bank UK as the CEO into its next stage of growth, focused on delivering exceptional value and fostering long-term relationships with customers.
Waring s has held director level positions in financial services, retail and legal firms. In 2024 Waring was appointed 'Managing Director, Banking' to support JN Bank UK’s future strategy and to drive the growth of the business.
JN Bank provides personal savings accounts and unsecured personal loans as a digital bank and is supported by a physical branch located in Brixton, south London.
In a statement, the bank says Waring will lead “next stage of growth” as CEO. This will include “expanding its product offerings”, with the SOMU investment to “support the bank’s focus on enhancing its technological capabilities, improving customer experiences, and driving future growth”.
Photo: Chris Waring, CEO, JN Bank, UK
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