Paragon chairman departs for The Co-operative Bank

Bob Dench

The chairman of Solihull-based Paragon Banking Group is to stand down from his role to take up a new position as chairman of The Co-operative Bank.

Bob Dench is stepping down after 14 years with the company and he will take up his new position on March 14.

However, he will remain as chairman of Paragon until a successor has been appointed.

Paragon said it had well developed succession plans and the search for his replacement, both internally and externally, was already underway.

Paragon said it would make a further announcement when appropriate.

Mr Dench said: “It has been a great joy and a privilege to have been at Paragon for the last 14 years, 11 of which have been as chairman. The transitioning of the business into a banking group last year was a major milestone. It came after many years of real focus and hard work by a very talented group of individuals, all of whom recognise the importance of working as a team.”

Nigel Terrington, chief executive, Paragon, said: “On behalf of the board, I thank Bob for his commitment to Paragon and for his ability to chair the board in a collegiate, but challenging way. He has been a supportive chairman to the management team and his wealth of banking experience has been invaluable throughout his tenure, particularly during the diversification of our funding and assets in our transition to becoming a specialist bank.

“On a personal note, I have thoroughly enjoyed working with Bob and appreciate the support he has given me. I, and my colleagues at Paragon, will miss Bob and we wish him well in his new role.”

The chairman of Solihull-based Paragon Banking Group is to stand down from his role to take up a new position as chairman of The Co-operative Bank.

Bob Dench is stepping down after 14 years with the company and he will take up his new position on March 14.

However, he will remain as chairman of Paragon until a successor has been appointed.

Paragon said it had well developed succession plans and the search for his replacement, both internally and externally, was already underway.

Paragon said it would make a further announcement when appropriate.

Mr Dench said: “It has been a great joy and a privilege to have been at Paragon for the last 14 years, 11 of which have been as chairman. The transitioning of the business into a banking group last year was a major milestone. It came after many years of real focus and hard work by a very talented group of individuals, all of whom recognise the importance of working as a team.”

Nigel Terrington, chief executive, Paragon, said: “On behalf of the board, I thank Bob for his commitment to Paragon and for his ability to chair the board in a collegiate, but challenging way. He has been a supportive chairman to the management team and his wealth of banking experience has been invaluable throughout his tenure, particularly during the diversification of our funding and assets in our transition to becoming a specialist bank.

“On a personal note, I have thoroughly enjoyed working with Bob and appreciate the support he has given me. I, and my colleagues at Paragon, will miss Bob and we wish him well in his new role.”

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