LHV Bank has appointed former Starling Bank executive Damian Thompson as Chief Executive Officer and Executive Director, with a mandate to lead its next phase of growth, particularly in lending to small and medium-sized enterprises.
Thompson is scheduled to join on January 4, 2027, subject to approval from the Prudential Regulation Authority and Financial Conduct Authority. The appointment brings experienced lending leadership to the UK banking subsidiary of AS LHV Group as it expands its local business.
From Starling’s Lending Expansion to LHV’s Next Chapter
According to LHV Group’s official announcement, Thompson brings more than 35 years of UK banking experience.
He spent almost two decades in senior positions at NatWest Markets before joining Starling’s executive team in 2021. During his tenure, Starling’s loan portfolio grew to more than £5 billion. He also became CEO of Fleet Mortgages, the bank’s buy-to-let lending subsidiary, in 2023.
His background spans several areas relevant to LHV’s plans:
Business lending: Experience overseeing SME lending and banking products.
Specialist mortgages: Leadership of Fleet Mortgages and responsibility for mortgage-related assets.
Digital bank growth: Experience scaling lending operations within a technology-led institution.
Sector representation: Former chair of UK Finance’s Specialist Banks Advisory Forum.
SME Lending Takes Centre Stage
LHV’s leadership has identified its technology platform and the backing of AS LHV Group as foundations for further UK growth. Thompson’s appointment adds lending expertise to that strategy, with risk management and regulatory compliance remaining explicit priorities.
Mihkel Torim, Chairman of LHV Bank Limited, said:
“Growing our local presence in the UK on a strong technology platform is at the core of our strategy, and Damian has the experience to lead it.”
Thompson similarly highlighted the opportunity to expand the bank’s lending while maintaining strong controls. The announcement does not set a new lending target or confirm additional product launches.
Why the Appointment Matters for Financial Business Buyers
For readers assessing financial businesses available for acquisition, LHV’s leadership transition highlights a useful distinction: technology infrastructure and lending expertise serve different, complementary roles. Evaluating a banking business means looking beyond its digital platform to the people responsible for credit decisions, portfolio oversight and regulatory accountability.
For LHV, the immediate next step is regulatory approval. If granted, Thompson will take the helm in January 2027, bringing experience from both established banking and digital-bank expansion to its SME lending ambitions.