The 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. 

Further, to facilitate the creation of the new British Growth Partnership, the Bank 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.

Chief Investment Officer, British Business Bank

Leandros Kalisperas joins 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 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 role, Leandros 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 £7.9bn of commercial programmes will be put on a permanent footing, with greater flexibility to respond to market need. Also announced was the establishment of the British Growth Partnership, subject to regulatory approval, encouraging more UK pension fund and other institutional investment into the UK’s fastest growing, most innovative companies.

This expanding investment business requires a broader approach and new skillsets which Leandros will bring to it. We look forward to benefiting from his range of experience and perspectives, and to increasing the impact the Bank can have through its market-shaping investment activities.

Louis Taylor, CEO, British Business Bank said: “Last month, the Chancellor announced a package of measures that has the potential to unlock billions of pounds of additional investment for the UK’s fastest growing and most innovative companies, thereby boosting the economy and providing a legacy for future generations of pensioners.

“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.”

Leandros Kalisperas said: “I am thrilled to be joining the British Business Bank to lead its investment teams at such a pivotal moment in its development. 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.”

Leandros holds an MA in Politics, Philosophy and Economics from the University of Oxford, and an MBA from INSEAD. He also recently completed the Oxford Fintech Programme at the University of Oxford.

Managing Partner, British Growth Partnership

Ian Connatty, who has been appointed Managing Partner of BBB Patient Capital Advisory Services, 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. 

The role is responsible for shaping the strategic direction of the Partnership, overseeing its operational management and regulatory compliance, and spearheading fundraising and investor relations activities.

As Managing Partner, Ian will also serve on the BBB Patient Capital Advisory Services Board, contributing to the Partnership’s governance and strategic oversight.

Louis Taylor, CEO, British Business Bank said: “Ian has been instrumental in building British Patient Capital’s extensive track record, market access and position as the UK’s largest domestic investor in venture and venture growth. I am delighted that he is taking on the role of Managing Partner, British Growth Partnership to help unlock hundreds of millions of pounds of domestic investment for the UK’s high growth businesses.”

Ian Connatty said: “It is an honour to be taking on the role of Managing Partner, British Growth Partnership at such an exciting time for the Bank. I look forward to establishing and building the British Growth Partnership, as we work towards a regulated business, with the aim of making investments by the second half of 2025.”

Prior to joining British Patient Capital in 2018, Ian joined the Bank’s predecessor, Capital for Enterprise Ltd in 2009 and was part of the team who set up the Bank.

Ian has a particular focus on direct, co-investment and venture capital fund investing and played a key role in the deployment of the Venture Capital Catalyst, which formed the seed portfolio of British Patient Capital. Prior to joining Capital for Enterprise Ltd, Ian worked in corporate finance at technology company Infinity SDC and in financial modelling at the Royal Bank of Scotland.