The Sheffield-based British Business Bank, the UK’s economic development bank, has appointed Leandros Kalisperas as its first Chief Investment Officer with responsibility for all of the Bank’s investment activities.  

Kalisperas will join the British Business Bank in January 2025 from the West Yorkshire Pension Fund where he is Chief Investment Officer. Prior to that he held senior roles at fund manager abrdn and the Universities Superannuation Scheme, bringing 20 years of public and private sector financial services experience across banking, pensions and asset management.

In his new job, Kalisperas will take on responsibility for the entirety of the British Business Bank’s investment business which includes the Bank’s two commercial subsidiaries, British Business Investments and British Patient Capital. His scope will also include the recently launched Nations and Regions Investment Funds, the Enterprise Capital Funds programme, as well as sourcing and delivering investments for the new British Growth Partnership.

His appointment comes less than a month after the Chancellor of the Exchequer and Secretary of State for Business and Trade announced that the Bank’s £7.9 billion of commercial programmes will be put on a permanent footing, with greater flexibility to respond to market need. 

Louis Taylor, CEO, British Business Bank said: “As we build the capabilities we need to respond to these new opportunities we are fortunate to have recruited such a strong talent for the Bank. I am delighted that we will benefit from Leandros’s strong track record in investment management and extensive experience in managing large, complex, private market portfolios.”

Kalisperas said: “The Bank’s dedication to fostering economic growth across the UK is already evident in its strong investment capabilities in both London and Sheffield. I look forward to collaborating with our partners to further enhance these efforts and align with the evolving needs of private capital.”

Separately, the bank said it has established a new entity, BBB Patient Capital Advisory Services, and Ian Connatty has been appointed as its first Managing Partner, leading its regulated investment advisory and fundraising activities. 

Connatty is currently the Deputy Chief Investment Officer of the British Business Bank. He will start in the new role immediately as the British Growth Partnership gears up for launch in 2025 subject to regulatory approval. 

He will be responsible for shaping the strategic direction of the Partnership, overseeing its operational management and regulatory compliance, and spearheading fundraising and investor relations activities.