Gatehouse Bank appoints Strategy& to raise additional equity capital
Gatehouse Bank today announced it has appointed Strategy& as its adviser to raise additional equity capital. Strategy& is PwC’s global strategy consulting business.
A UK regulated Shariah-compliant bank, Gatehouse is looking to increase its Tier 1 Capital to enable continuing growth in its addressable markets, notably home finance, institutional build to rent and deposit accounts. Gatehouse has total assets now exceeding £1 billion.
Charles Haresnape, CEO of Gatehouse Bank, said: “We are delighted to be working with the Strategy& team as we look to raise Tier 1 Equity capital for growth purposes. We have seen a significant increase in demand for our services over the last three years and believe there is a huge opportunity ahead of us, growing our regulatory capital will facilitate this growth.”
Philipp Wackerbeck, Partner and Global Head of Financial Services at Strategy&, commented: “We are delighted to be working with Gatehouse Bank to assist in bringing incremental capital into the bank to enable further expansion.”