Grameen appoints CEO to introduce micro-lending system in Scotland

25 February 2013

Grameen appoints CEO to introduce micro-lending system in Scotland

Grameen CEO Kevin J E Cadman

Grameen in the UK has appointed former RBS Regional Director Kevin J E Cadman as its Chief Executive Officer to oversee the introduction of the Grameen micro-lending system to the UK.

Mr Cadman has more than 30 years of experience working in the banking sector in Scotland. The Grameen micro-lending system was launched last year with the aid of Tesco Bank and other major supporters. 

The Grameen Scotland Foundation, a charitable body run by a board of trustees, will oversee the running of Grameen in the UK, which will introduce the micro-lending system originally devised by Nobel Laureate, Professor Muhammad Yunus, the Chancellor of Glasgow Caledonian University (GCU). 

Mr Cadman said: “I am delighted to join the Grameen Scotland Foundation at this very exciting moment in its history. The Grameen micro-lending system has helped to lift millions of people out of poverty worldwide and I look forward to drawing on my extensive experience of the financial sector as Grameen micro-loans are introduced to the UK for the first time.

“The Grameen model is all about helping individuals to make a better life for themselves by empowering them to cultivate business skills, develop financial awareness and become active members of the community. It goes straight to the heart of what finance should be all about - knowing customers as individuals and meeting their needs and aspirations.”

Born in Arbroath, Mr Cadman has worked in the banking sector since leaving school. He progressed through various management positions to become RBS Regional Director for central Scotland before leaving the bank in July 2012. He joined the Board of Directors of One Parent Families Scotland in 2006.

Dr Martin Cheyne, Chair of the Grameen Scotland Foundation, said: “Mr Cadman has extensive experience at all levels of the banking sector - from leaving school to work in his local branch to holding a number of senior management positions – and I look forward to working with him as Grameen continues to develop in the UK."

The initial pilot scheme will serve Glasgow, North Ayrshire, West Dunbartonshire and Inverclyde, four of the five most deprived communities in Scotland. The Foundation has already attracted significant backing from a range of sources, including Tesco Bank who have provided £500,000 loan capital and will also offer savings facilities and business support to borrowers. Other key supporters include the Scottish Government and businesswoman and philanthropist Ann Gloag.

In addition, the Foundation is in advanced discussions with the European Investment Fund to access further resources.