Tim Davies, a banking industry veteran with over 30 years’ experience, is to take the critical role of Chief Risk Officer as DAG fine tunes its Regulatory Business Plan and continues its dialogue with the Prudential Regulatory Authority in order to obtain its UK banking license.

Tim has over three decades of risk management experience including roles with Rothschild, Midland Bank (now HSBC), Deloitte, Lloyds TSB and ICAP. Tim has a proven track record in Credit and Operational Risk Management combined with strong regulatory knowledge as well as a deep understanding of derivatives, fixed income, FX, commodities and collateralised instruments. Tim has presented at numerous industry conferences and has published papers within his field.

Sean Kiernan, chief executive of DAG Global, said: “The recruitment of Tim, an experienced industry leader, is an important step for DAG Global as we build out what we hope will be the UK’s first merchant bank for the digital economy. We are progressing well with our UK banking licence application and look forward to being able to bring high touch, responsive banking to a fast-growing and critically underserved digital market.”