SPORTA, who is building the financial home for sport, founded by ClearBank co-founder Andrew Smith, has appointed David Wishart as Chief Risk Officer.
Wishart was most recently at Sainsbury’s Bank, where he served as Chief Risk Officer. Previously he spent 15 years in senior roles at Lloyds Banking Group, across retail banking, mortgages and credit risk.
Wishart will lead SPORTA’s risk strategy, governance and control framework, helping to ensure the business is built on strong foundations from the outset. His role will include embedding risk management into SPORTA’s operating model, supporting the development of robust governance structures and ensuring the business is designed to serve customers safely and responsibly as it scales.
Andrew Smith, CEO and Founder of SPORTA, said:
“David’s appointment is a significant moment for SPORTA. As a business we have a big mission to create a new financial home for sport, but we are committed to doing this in a disciplined way. That means putting the right people, with senior governance and risk expertise, in place from the very beginning.
“David brings deep banking experience, senior risk leadership and a clear understanding of what it takes to build trusted financial institutions.
“Sport is a sector with specific financial needs and challenges, from grassroots clubs and community organisations to athletes, fans and professional teams. Our job is to build with those realities in mind, responsibly, sustainably and with the right guardrails from day one.”
David Wishart, Chief Risk Officer at SPORTA, added:
“Sport matters because it brings people together. It supports physical and mental health, identity, confidence and community. Too often though, the organisations at the heart of sport are asked to operate without the specialist financial support that other sectors take for granted. SPORTA is coming at what is a very real problem with a very clear strategy. Sport has its own economy, its own rhythms and its own customer needs, and my role is to ensure SPORTA is underpinned with the right governance, controls and risk culture from the outset.”
SPORTA recently announced its flagship football partnership with Stevenage FC, which will see the League One club’s stadium known as SPORTA Arena. The partnership is designed to support the club, its community and its long-term development, while giving SPORTA deeper insight into the financial and operational realities of modern sport.
Wishart said SPORTA’s focus on sport’s grassroots and community role was a major part of the attraction.
“SPORTA is starting from the right place, building from the grassroots upwards, listening to the needs of clubs and communities, and putting the right foundations in place before scaling. That is exactly where strong risk management should sit: not at the end of the process, but built into the design from the start.”
SPORTA’s has an application under way to become the UK’s first fully authorised bank dedicated to sporting communities, athletes and clubs, all subject to Bank of England approval.
No regulated banking products or services are currently available from SPORTA.
Image provided by SPORTA
