Banking Competition Remedies Limited (BCR) was established in 2018 to implement the Alternative Remedies Package of measures agreed between the UK Government and the European Commission. With the Incentivised Switching Scheme now closed [June 2021] and the Capability and Innovation Fund Agreements now ended [December 2022], BCR is now focused on informal reporting for 24 awardees for the duration of 2023 and will commence a voluntary liquidation later this year.
BCR is independent from NatWest (formerly known as “RBS”) and the UK Government. It is governed by an independent Board of Directors now comprising of 3 with the departure of John Howard at the end of 2022 as the Capability and Innovation Fund Agreements ended.
BCR Board of Directors
Aidene Walsh, Chair of Payment Systems Regulator and former CEO of The Fairbanking Foundation has over 26 years’ experience in commercial banking at Citigroup, ABN Amro, RBS and Lloyds Banking Group, leading various international and UK payments and customer businesses.
Brendan Peilow is the former Crown Representative for Banking and Payments and the former Director of the Government Banking Service (Assistant Paymaster General). Brendan has 33 years’ experience working for Lloyds Banking Group across various roles.
Richard Anderson, Chair of BCR, is a past
Chairman of the Institute of Risk Management and was a partner in PwC where he
led the Strategic Risk Services group in Europe, Middle East and Africa before
working in a variety of risk consulting practices, including setting up his
own. He is the former Chair of Monavate Holdings, a VC-backed FinTech company
and is also a former independent NED at Pay.UK where he chaired the Risk
Committee and Security sub-committee. He also chaired the Cheque & Credit
Clearing Company. He has broad experience across many industries as an auditor
and as a consultant with a strong governance background.