Cashplus hires ex-Daily Mail comms head Alex Moorhouse as Corporate Affairs Director

 Cashplus, the leading challenger to UK banks, today announces the appointment of Alex Moorhouse as Corporate Affairs Director.

In this newly created position, Moorhouse will oversee the Cashplus media and public affairs strategy as well as leading the company’s corporate development and investor relations activities with founder-CEO Rich Wagner.

Moorhouse has advised Cashplus as a consultant for the last 12 months and previously held a range of high-profile corporate communications roles including Group Head of Communications at DMGT plc, the parent company of the Daily Mail. He previously worked at IHG plc, one of the world’s largest hoteliers and as a freelance journalist for a range of regional and national outlets.

Rich Wagner, CEO said: “I’m delighted to welcome Alex as another strong addition to my team at Cashplus. Developing and strengthening our reputation is a major focus as we prepare to become a bank and Alex’s experience and expertise will be extremely valuable as we accelerate growth, raise our profile and build closer relationships with policymakers and the investment community.”

Cashplus also recently announced the appointment of Credit Director, Rahul Duseja, a former American Express executive, and Treasurer Tom Dolan from Monzo.

The company launched in 2005 and is now focused on providing digital banking and lending services for the small businesses and start-ups that are often poorly served by UK’s high street banks. Earlier this year, the company reported revenues of £45.6m and its eighth year of operating profit.

Alex Moorhouse said: “This is a great time to join Cashplus. Rich and the team have done an excellent job in delivering better digital banking services for the entrepreneurs, innovators and independents businesses that power our economy. Cashplus has also managed the rare feat of delivering profits in a sector where others are haemorrhaging money and has enormous growth opportunities post-bank licence. I think that’s a story worth telling and I’m excited to get started.”

Cashplus submitted its final banking licence application in August and hopes to be fully authorised in Q1 2020. Once a bank, the company will hold c.£400m of lending capital and will increase its lending through new and existing SME and consumer credit products. The company currently holds 7% share of all new UK business accounts and is on course to capture at least 10% over the next few years.