Supporting UK manufacturing forms a key part of the Bank's Helping Britain Prosper plan and Walton will further develop the Bank's proposition for around 1,000 manufacturers with revenues between £25 million and £750 million nationwide. He will also drive the Bank's commitment to make £1 billion of new funding support available to manufacturers each year until 2017.
With more than 20 years' experience in business and the financial services sector, Walton's previous expertise includes roles at Standard Chartered and Royal Bank of Scotland, both in the UK and Asia. As a senior director for RBS, based out of Singapore, he had responsibility for UK clients doing business in Asia and led RBS' partnership with the UKTI.
In his new role, Walton will manage the Bank's relationship with the Lloyds Bank Advanced Manufacturing Training Centre, part of the Manufacturing Technology Centre, a High Value Manufacturing Catapult that has secured government investment to stimulate growth in the sector. The initiative, which is due to open later this year in Coventry, aims to address the sector's widening skills gap. These new facilities will provide training for more than 1,000 new engineering apprentices and trainees, ensuring that there is an influx of skilled workers into the manufacturing industry over the coming years.
Commenting on his appointment, James said: "Growth in the advanced manufacturing sector is critical to the success of the UK economy and therefore forms an important part of our strategy. I look forward to working with our teams across the country to support our manufacturing clients realise the growth opportunities available."
