Cash Action Group establishes Banking Hub company

It comes after the CAG - which is comprised of all major banks, Nationwide, the Post Office, the Federation of Small Business, Age UK and Toynbee Hall - announced its decision that any community that faces the closure of a core cash service, such as a bank branch or ATM, will have its needs independently assessed by cash machine network provider LINK. If it determines that a new banking hub is required, the banks have committed to set one up.

The newly established Banking Hub company will oversee the rollout of cash services across the UK. As part of this process, the organisation has appointed Gareth Oakley as its chief executive and Amanda Bell as its delivery director. 

Natalie Ceeney, who chaired the Access to Cash Review and the Cash Action Group, has agreed to be the chairwoman of the new company.

Oakley joins from Lloyds Banking Group with more than 30 years’ banking experience. His most recent role was managing director of business banking, with responsibility for one million small business customers, many of whom are key customers at banking hubs. 

Bell, meanwhile, joins from her most recent position at TSB as head of branch transformation. As delivery director, her role will use her 30 years experience in both retail and business banking to help engage with local communities and banks to manage the set-up of the Banking Hubs, ensuring that they work well.

Ceeney said: “It is fantastic to see the concept of Banking Hubs moving to a reality in communities across the UK, and setting up a company to take this work forward will give it focus and resources. 

“I’m delighted that Gareth and Amanda are joining to lead the company and the work. The fact we’ve secured such talented leaders to take forward this work demonstrates the level of commitment that the banks have to this project, and the opportunity that we have to make a real difference to communities.”