Redwood Bank new CFO sets sights on future growth
New Redwood Bank chief financial officer (subject to regulatory approval) Sergio Cruz is embracing “the opportunity to continue to shape the future” of the Bank after rising through the ranks over the past seven years.
Sergio said: “We have established a great foundation to grow… and I am ready to lead the finance team in the next stage of growth. We are at a pivotal moment in the Bank’s history and I have a vital role to play in supporting our CEO to help Redwood move forward.
“It is a fantastic opportunity to continue to help shape the future of Redwood. We have already achieved so much since we started in 2017, reaching profitability within five years and receiving a number of awards for products and innovation. There is still so much more we want to deliver for our customers, colleagues, brokers and shareholders.”
Sergio joined Redwood in 2018 as head of risk, before moving to director of risk, director of treasury, chief treasury and strategy officer and ALM, before becoming deputy CFO. He had previously worked at PWC, One Savings Bank and Amicus Finance.
“I have been here almost since the beginning of Redwood and have been a part of our incredible journey in helping the Bank grow. When I look ahead, there will be more challenges, as there are in any business, and that’s what keeps it interesting.”
He thanked Ashraf Piranie, the outgoing CFO, for supporting his development and more recently on helping make the transition from Deputy CFO to CFO (subject to regulatory approval) straightforward. “There’s a fear of missing out when you’re handing over a role to someone else and I have to credit Ash for being so unique in the way he has planned the transition.”
Ashraf, who announced his intention to retire almost a year ago and left the Bank at the end of March, had spotted the potential in his successor from the first time he met him, when he himself took on the CFO role two years ago.
He said: “From day one when I met Sergio, I thought very highly of him, the way he thinks, the way he can see the big picture. It is very rewarding for me and for the Bank to see an internal candidate progress to CFO level in line with our succession plans.”
CEO and co-founder Gary Wilkinson said: “Sergio’s appointment is a testament to his outstanding contribution to Redwood over the past seven years. He has grown with the Bank, playing a key role in shaping our strategy, strengthening our treasury and finance functions, and helping us deliver on our ambitious growth plans.
“He embodies the values and culture we are so proud of at Redwood – collaborative, forward-thinking and customer-focused. I have every confidence in his ability to lead our finance team and support the next stage of our journey. I would also like to thank Ashraf Piranie for his valuable support and service and for managing such a smooth and thoughtful transition.”