Co-op Bank, which last year signed a £700m deal to meet regulatory requirements, has confirmed that Andrew Bester (pictured) will begin working as its new chief executive as of today.
Bester replaces Liam Coleman, who stepped down after a year and a half in the position.
The bank’s new boss was group director of Lloyds for five years, and before that worked at Standard Chartered, Deloitte, and PwC.
Co-op Bank chairman Bob Dench says: “Five years ago, the bank faced very significant problems and over that time we have made progress towards successfully tackling those issues. In Andrew we have found the right person to take us on to the next stage as we focus on achieving a sustainable profitable bank.”
Bester adds: “Over its recent history, the bank has been through a period of great change and uncertainty and I look forward to working with the teams to return the business to its former strength.”