Louis Taylor, the Newcastle-born chief executive of the British Business Bank (BBB), has announced he will step down from his role at the end of September 2026. Taylor, who attended the Royal Grammar School in Newcastle, has led the UK's economic development bank for four years, overseeing a significant transformation that included a landmark government mandate backed by £25.6bn in increased financial capacity.
Leadership Transition and Interim Appointment
Taylor will remain as chair of BBB Investment Services Limited, the bank's third-party arm, until the end of December 2026. A recruitment process to identify his successor will launch shortly. David Hourican, the bank's chief financial officer, will assume the role of interim CEO from October 1, 2026.
Under Taylor's leadership, the BBB introduced an ambitious five-year strategy aimed at driving UK growth. The bank now operates with a simplified model, a highly capable team, and a customer-focused culture, making it more agile and effective, according to Taylor.
Taylor's Reflections on His Tenure
Speaking about his departure, Taylor said: "It has been a huge privilege to lead the British Business Bank over the last four years by setting a clear and ambitious vision. The Bank now has a comprehensive strategy to deliver that vision, increased flexible financial resources, a simplified operating model, a highly capable team and a customer focused culture. It is a far more agile and effective organisation."
He added: "I am proud of the team of professionals I have worked with and the capability we have built, which provides my successor with more firepower and the opportunity to execute the Bank's Five-year Strategic Plan at a crucial moment for the UK's smaller and most innovative businesses."
Government and Chair Praise
Peter Kyle, Secretary of State for Business and Trade, commended Taylor's leadership: "Louis Taylor has been an outstanding CEO of both the British Business Bank and UK Export Finance. His leadership has paved the way for countless businesses to hire more, boost wages and grow right across the UK. I would like to thank him for his bold vision during his 11 years of public service, and his continued commitment to backing UK economic growth. I am confident the next phase of the Bank will give UK innovators the bold backing they need to transform ambition into success."
Stephen Welton, chair of the British Business Bank, added: "Louis has been an outstanding leader of the British Business Bank, taking the Bank from the role of market participant at the end of the pandemic to more of a market leading position today with a platform that can deliver at scale going forward. As we enter our new five-year planning cycle, the increased financial capacity, greater financial freedoms and flexibilities that Louis has secured, and ongoing momentum leave a strong legacy. This puts the Bank in a stronger position to continue to evolve and deliver on the ambitions we set out in our Five-year Strategic Plan and the government's growth mission."
