Founding chief executive of Charity Bank appointed CBE

Malcolm Hayday, founding chief executive of Charity Bank, has been awarded a CBE in the Queen’s Birthday Honours for “services to charities and Social Enterprise.”

Hayday, who left the bank after 10 years in 2012, was one of the pioneers of social finance.

He joined the Charities Aid Foundation (CAF) in 1993 to explore the possibility of loan finance as a new resource for the charity sector.

In 1995 he started Investors in Society, a successful pilot loan fund, before overseeing its formal incorporation as Charity Bank in 2002.

George Blunden, chairman of Charity Bank, said: “We are delighted that Malcolm has been appointed CBE in the Queen’s Birthday Honours. It is a fitting recognition for his work and dedication in establishing Charity Bank and leading it for its first 10 years.

“Malcolm demonstrated that a bank can make long term loans to small charities safely and therefore address market failures, and that savings can be mobilised from ethical depositors for the purpose.”

Charity Bank was launched in 2002 by the then Chancellor of the Exchequer at a ceremony at 11 Downing Street as the only bank authorised by the Financial Services Authority to be set up to lend depositors’ money solely to charities, social enterprises and community organisations.

Since it started with assets of little more than £6m, the bank has agreed to lend over £175 million to over 1,000 charities that support people and communities across the UK.

Patrick Crawford, chief executive of Charity Bank and formerly chief executive of UK Export Finance, was also given an award in the Queen’s Birthday Honours,awarded a CB for services to UK exports.

Crawford was chief executive of UK Export Finance, the government department that acts as the UK’s export credit agency, from 2004 until he took up his post with Charity Bank on 19 November 2012.