James McColl steps down from Board of Alba Bank
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2 November 2026
Caledonian Holdings PLC
("Caledonian" or the "Company")
James McColl steps down from Board of Alba Bank
Caledonian Holdings plc (“Caledonian" or the “Company"), a significant shareholder in Alba Bank (“Alba”), announces that James (“Jim”) McColl, Executive Director of Caledonian and founder of Alba, has stepped down from the board of Alba.
Mr McColl founded Alba in 2018 and has played a central role in developing the business from inception, including establishing its management team, governance and risk framework, and progressing Alba through the regulatory authorisation process.
His decision to step down, at present, comes at an important stage in Alba’s development and will enable Mr McColl to devote greater focus to Caledonian and the continued execution of the Company’s financial services strategy, including maxismising the long-term value of Caledonian’s investment in Alba.
Alba has recently advised its shareholders that it expects to receive imminent regulatory approval, subject to the final capital requirements being satisfied before full authorisation. Caledonian believes that this represents a significant milestone in Alba's development and remains fully supportive of Alba, its management team and its long-term strategy.
The separation of Mr McColl’s executive responsibilities at Caledonian from Alba’s board also provides greater clarity between Caledonian’s position as a significant shareholder and Alba’s own board and management responsibilities.
James A. McColl, Executive Director of Caledonian Holdings plc and founder of Alba Bank, commented:
"Having founded Alba and remained closely involved in its development, I continue to have great confidence in its long-term prospects. At the present time I believe I can create greater value for Caledonian shareholders by focusing directly on our investment and on opportunities to strengthen and enhance our position as a major shareholder.
This should not be viewed as a departure from Alba, nor as any reduction in my commitment to its success. Rather, it reflects a decision about where I can contribute most effectively during the next phase of the Bank's development. Building a successful Bank is a marathon, not a sprint. Caledonian remains fully supportive of Alba, and I look forward to continuing to support its progress as a committed shareholder and founder.
As the business evolves, future opportunities for engagement may rise and will be considered at the appropriate time in the interests of shareholders.”
For further information, please contact:
|
Caledonian Holdings plc Jim McColl, Executive Director Brent Fitzpatrick, Non-Executive Chairman |
Tel: +44 (0) 7950 389469 |
|
Allenby Capital Limited (Nominated Adviser) |
Tel: +44 (0) 20 3328 5656 |
|
Nick Athanas / David Asquith |
|
|
AlbR Capital Limited (Joint Broker) |
Tel: +44 (0) 20 7469 0930 |
|
Axis Capital Markets Limited (Joint Broker) Richard Hutchison |
Tel: +44 (0) 20 3026 0320 |
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