The British Business Bank, the economic development bank given a new lease of life under chancellor Rachel Reeves, has appointed Leandros
Kalisperas as its first chief investment officer, with responsibility for all of the bank’s investment activities.
Kalisperas will join the British Business Bank in January from the West Yorkshire Pension Fund, where he is chief investment officer.
Prior to that, he held senior roles at abrdn and the Universities Superannuation Scheme, bringing 20 years of public and private sector financial services experience across banking, pensions and asset management.
In his new role, Kalisperas will take responsibility for all of the British Business Bank’s investment business, which includes the commercial subsidiaries: British Business Investments and British Patient Capital.
His scope will also include the recently launched Nations and Regions Investment Funds and the Enterprise Capital Funds programme, as well as sourcing and delivering investments for the new British Growth Partnership.
His appointment comes less than a month after the Chancellor of the Exchequer and secretary of state for business and trade announced that the bank’s £7.9bn worth of commercial programmes will be put on a permanent footing, with greater flexibility to respond to market need.
Also announced was the establishment of the British Growth Partnership, albeit subject to regulatory approval, which aims to encourage more UK pension fund and other institutional investment into the UK’s fastest growing, most innovative companies.
Louis Taylor, CEO of British Business Bank, said: “Last month, the chancellor announced a package of measures that has the potential to unlock billions of pounds of additional investment for the UK’s fastest growing and most innovative companies, thereby boosting the economy and providing a legacy for future generations of pensioners.
“As we build the capabilities we need to respond to these new opportunities we are fortunate to have recruited such a strong talent for the bank. I am delighted that we will benefit from Leandros’s strong track record in investment management and extensive experience in managing large, complex, private market portfolios.”
Kalisperas added: “The bank’s dedication to fostering economic growth across the UK is already evident in its strong investment capabilities in London and Sheffield. I look forward to collaborating with our partners to further enhance these efforts and align with the evolving needs of private capital.”
In addition, and to facilitate the creation of the new British Growth Partnership, the bank has established a new entity, BBB Patient Capital Advisory Services. Ian Connatty has been appointed its first managing partner, leading its regulated investment advisory and fundraising activities.
The role is responsible for shaping the strategic direction of the partnership, overseeing its operational management and regulatory compliance, and spearheading fundraising and investor relations activities.
As managing partner, Connatty will also serve on the BBB Patient Capital Advisory Services Board, contributing to the partnership’s governance and strategic oversight.
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