{"url":"https://newsforagent.com/news/2026-11-02/jim-mccoll-steps-down-alba-bank-board","markdown_url":"https://newsforagent.com/news/2026-11-02/jim-mccoll-steps-down-alba-bank-board.md","title":"Alba Bank founder Jim McColl steps down from board","headline":"Caledonian Holdings' Jim McColl leaves Alba Bank board to focus on shareholder strategy","description":"Jim McColl, founder of Alba Bank and executive director of Caledonian Holdings, has stepped down from the bank's board to focus on Caledonian's financial services strategy.","section":"Leadership","published_at":"2026-11-02T11:49:32+00:00","modified_at":"2026-11-02T11:49:32+00:00","author":"News Desk","key_takeaways":["Jim McColl founded Alba Bank in 2018 and has stepped down from its board while remaining executive director of Caledonian Holdings.","Alba Bank has told shareholders it expects imminent regulatory approval, subject to final capital requirements being satisfied.","Caledonian Holdings raised £612,000 in August 2026 through 48,960,000 new ordinary shares at 1.25 pence each to fund the Aspire rollout."],"companies":[{"name":"Alba Bank","is_primary":true,"profile_url":"https://akta.pro/company-profiles/022q7dx/alba-bank","website":"https://www.albacoltd.co.uk"}],"source":{"publisher":"Investegate","title":"James McColl steps down from Board of Alba Bank","url":"https://www.investegate.co.uk/announcement/rns/caledonian-holdings-plc--chp/james-mccoll-steps-down-from-board-of-alba-bank-/9853217"},"other_sources":[],"tags":["Leadership","Alba Bank"],"body_markdown":"Jim McColl, founder of Alba Bank and executive director of Caledonian Holdings, has stepped down from the board of Alba Bank, the company announced on November 2, 2026. Caledonian Holdings, a significant shareholder in Alba, disclosed the move in a statement carried by [Investegate](https://www.investegate.co.uk/announcement/rns/caledonian-holdings-plc--chp/james-mccoll-steps-down-from-board-of-alba-bank-/9853217).\n\n## McColl's Exit From the Alba Board\n\nMcColl founded [Alba Bank](https://akta.pro/company-profiles/022q7dx/alba-bank) in 2018 and helped build the business from inception, including establishing its management team, governance and risk framework, and taking it through the regulatory authorisation process. Caledonian said the decision to step down will let McColl devote greater focus to Caledonian and the continued execution of its financial services strategy, including maximising the long-term value of its investment in Alba.\n\nAlba has recently told shareholders it expects to receive imminent regulatory approval, subject to the final capital requirements being satisfied before full authorisation. Caledonian said the separation of McColl's executive responsibilities at Caledonian from Alba's board also provides greater clarity between Caledonian's position as a significant shareholder and Alba's own board and management responsibilities.\n\nMcColl said: \"Having founded Alba and remained closely involved in its development, I continue to have great confidence in its long-term prospects.\" He added that the move \"should not be viewed as a departure from Alba, nor as any reduction in my commitment to its success.\"\n\nCaledonian's Aspire subsidiary launched a multi-currency business current account and Mastercard World Business Debit Card on September 9, 2026, according to Advfn. The platform supports payments, foreign exchange and trade finance facilities up to £5 million for 120 days.\n\n## Alba Bank's Leadership and Funding Record\n\nAccording to akta.pro [company records](https://akta.pro/company-data), Rod Ashley stepped down as chief executive after six years in February 2024, with Jonathan Thompson taking the acting CEO role and Dominic Wade appointed chief financial officer from Unity Trust Bank. The same records list Thompson as acting chief executive, Wade as chief financial officer, Andrew Lewis as chief risk officer and Gareth McColl as chief operating officer. Alba was founded in 2018, is headquartered in East Kilbride and has a headcount range of 51 to 100.\n\nCaledonian Holdings raised £612,000 in August 2026 through the conditional issuance of 48,960,000 new ordinary shares at a discounted price of 1.25 pence per share, Investing.com reported, to fund the Aspire rollout.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}