Santander International’s new managing director for the Isle of Man is finally at his desk after a three-month delay because of the Covid-19 lockdown.

James Geldart was due to take up his position in the island in early April, but pandemic restrictions meant he could not leave Jersey until July.

Upon his arrival on Manx soil he completed a two-week isolation period, where he was working from home.

He finally joined his new team in Prospect Hill, Douglas, last week just as the bank was announcing it was working with the Treasury by supporting the Coronavirus Business Working Capital Loan Agreement (WCLA) as a participating lender.

The agreement will provide up to £10 million of working capital to local businesses adversely affected by Covid-19.

Loans of £5,000 to £250,000 will be available for locally based businesses who would otherwise not qualify for bank support or do not qualify for assistance via the Coronavirus Disruption Loan Guarantee Agreement.

Mr Geldart is no stranger to the island, having grown up in the south of the island and as a former pupil of Castle Rushen High School.

He has worked with Santander International since 2016 as head of retail and private banking for Jersey and the Isle of Man.

Mr Geldart said: ’I’m delighted to be able to to move back home to the Isle of Man and this promotion marks an exciting time for me both personally and professionally.

’Santander International has a strong and growing presence in the island and as managing director of the Isle of Man branch I hope to further the development of the bank, exceeding the expectations of our clients and continuing to offer a brilliant working environment for our staff.’

A graduate with a BA honours degree in management and a charterholder with the Chartered Institute of Securities and Investments, James began his career in banking as a financial planning manager with HSBC UK, working with the bank in various roles and jurisdictions.

Outside of work, James is a keen cyclist and triathlete, taking part in local and international events.

John Pearson, the previous managing director of the Isle of Man branch, will remain on the executive committee and will take up a new role developing new markets for Santander International.

Santander International will be joining Conister Bank in providing the facilities over the WCLA and it is the first time the bank is entering the SME (small to medium enterprises) lending market in the island.

Mr Geldart told Business News: ’We are very pleased to accelerate our entry into the SME market at a time when local businesses are facing significant challenges.

’We are proud to be working with the Treasury and wider Isle of Man Government to help people and businesses on the island, both now and in the future.’

Enterprise Minister Laurence Skelly said: ’The decision by Santander International to expand their proposition in the Isle of Man to include funding for businesses is most welcome.

’This increases customer choice and adds to their well-established reputation on the island.

’The support for the local economy provided by both Conister Bank and Santander International is appreciated, especially as we work towards supporting greater economic stability and helping those businesses who need it most.’

Full details of the scheme are being finalised and a further announcement will be made when the agreement’s arrangements are in place.