A former councillor and chief executive of an ethical finance company has been recognised in the Queen’s New Year’s Honours list.

Peter Lovell, of Bush Hill Park, has been made an MBE in recognition of his commitment to business development and financial inclusion in north London. 

The father-of-three is currently the chief executive of North London Credit Union and Financing Enterprise and was one of the founding members of the North London Credit Union in 1994.

He served on Enfield Council as a councillor for Highfield ward between 1986 and 1990.

Mr Lovell currently runs a group of not-for-profit companies that provide personal and business finance and support in an affordable, ethical way, with the needs of local people at its heart.

A former student at Tottenham Technical College, he began his career working for Barclays Bank, but was seconded to the London Enterprise Agency.

He said: “I just really enjoyed what they did there, and decided to do that sort of work, so I left the bank. I think they were a bit annoyed, having paid my salary for a few years.”

From there, Mr Lovell spent some time running a minicab company in Enfield. He said: “We all thought cab licensing would open up the market, but sadly it didn’t work out. It was hard to find good drivers, and we sold up.”

On hearing that he was to receive and MBE, Mr Lovell said he was “surprised and obviously incredibly honoured”.

He added: “I am very lucky to have had great support around me and to have worked with colleagues and partners who have the same objectives that I have always had – to make north London a community that offers opportunities to all its residents and is an attractive place to start and grow your business.”