Co-Op Bank chief to step down after two years in charge
Andrew Bester will step down as the chief executive of the Co-Op Bank, it was announced this morning, after two years in the job.
Bester, who joined the lender in July 2018, was at the time the banks’ fifth chief executive in seven years.
Under his tenure the Co-Op Bank split its digital offering off from its parent company and saw customer satisfaction levels rise.
He said that it had been a “real privilege” to lead an organisation with “such a distinct brand, clear purpose and values”.
“My ambition was to complete the major transformation phase of the turnaround and for our franchise to show resilience.
“At this point, I believe the bank is on the right path and it is time for a new chief executive to continue the journey to be the digital ethical bank”, he added.
Bester will remain in post until his successor is found, the Co-Op confirmed, with his date of departure to be confirmed in due course.
Chairman Bob Dench said: “I would like to thank Andrew for his dedicated leadership since taking up the position of chief executive .
“We appointed Andrew for his significant expertise in delivering major transformation programmes and he has ensured that we have successfully completed the “fixing the basics” phase of our turnaround.
“The progress made provides the foundations for the bank to grow and to build a successful future.”
In August, the bank said it would cut around 350 jobs and close 18 branches as the coronavirus crisis forced it to reduce costs.