The Co-operative Bank PLC has confirmed that Liam Coleman, CEO at the bank, will be stepping down from his position.
Liam has been at the bank for five years and served during the completion of the successful recapitalisation process last year.
The bank’s board said that he would remain in situ as the search for a successor progressed, with further announcements made in due course.
Liam said that he felt a great sense of achievement in how much it had collectively delivered both to address the fundamental issues the organisation faced in 2013 and to reshape the business around its retail customers.
“This is a great bank with a strong customer base and distinct brand and the progress made means there is much to build upon.
“However, having successfully completed the recapitalisation process last year, I feel it is now both the right time for me and for the business to look to new leadership for the next stage of the journey.
“In the meantime, though, it remains very much business as usual in delivering on our plans and the level of service our customers expect of us.”
Bob Dench, chairman at the Co-operative Bank, said that under Liam’s tenure, the bank had become stronger and more resilient on many levels.
“The achievements have provided the platform to move forward with our plans to achieve a sustainable and profitable Co-operative Bank.
“I would like to thank Liam on behalf of the board for his significant contribution.
“Our priority for the next phase is further to rebuild the bank’s competitiveness as a genuine alternative for customers.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Redefining banking: AI
This is an exciting time for financial services as a new era of interrelated technologies, including artificial intelligence (AI), robotics, blockchain, machine learning, cloud computing and data science, are causing widespread technological and digital disruption in the industry...
Apple introduces Apple Card
Apple has announced the creation of its first credit card 'Apple Card', which will be made available in the US this summer...
FCA proposes changes to help mortgage prisoners
The FCA has proposed changes to how lenders assess the affordability of a loan...
Hanley Economic BS strengthens shared ownership range
Hanley Economic Building Society has bolstered its shared ownership product range through the addition of a no-fee, shared ownership variable discount mortgage for term with a headline rate of 2.89%...
Al Rayan Bank confirms appointment of new CCO
Al Rayan Bank has appointed Maisam Fazal (pictured above) as chief commercial officer (CCO)...
AI Rayan provides £228 million of property finance to expats
Al Rayan Bank has announced that it has financed £228m in residential property finance to UK nationals living and working overseas...
Vanquis Bank names new MD
Provident Financial PLC has announced the appointment of Neil Chandler (pictured above) as managing director at Vanquis Bank...
Wyelands Bank hires two new regional directors
Wyelands Bank has made two additions to its working capital solutions team...
Triodos Bank reports 17% growth in sustainable lending
Triodos Bank has reported a 17% year-on-year growth in sustainable lending for the year ended 31st December 2018...
Tandem introduces new savings account powered by AUTOSAVINGS
Tandem has launched a new savings account which pays 0.5% interest...
Project BankNorth picks nCino to provide digital banking platform
Project BankNorth has partnered with cloud-banking fintech nCino...