UK Lender OakNorth Hiring in the US as Bank Acquisition Nears

OakNorth Bank Plc is hiring for key positions in the US ahead of its acquisition of Michigan-based Community Unity Bank, which the firm hopes will unlock even more lending to businesses in the country.

The all-share deal, which was announced a year ago, is “progressing” with regulators, according to Rishi Khosla, chief executive officer and co-founder of OakNorth Bank. “We are hopefully months away,” he said in an interview with Bloomberg News.

As part of the CUB acquisition, OakNorth has sought approval from the Office of the Comptroller of the Currency and the Federal Reserve for a US ...