Dennis Holt named chairman of Co-op Bank
FORMER Lloyds TSB and Bank of Ireland executive Dennis Holt has been confirmed as chairman of The Co-operative Bank.
Holt joined the board of the Manchester-based lender in February as a non-executive director and then became interim chairman in October when Richard Pym stood down.
He has 43 years’ experience in banking and insurance and was previously a main board director at Lloyds TSB, responsible for the Retail Bank. His previous non-executive posts include deputy chairman of Bank of Ireland plc, chairman of Bank of Ireland UK and chairman of Liverpool Victoria.
Niall Booker, chief executive of the bank, said: “Dennis brings more than four decades of experience and knowledge in financial services. His involvement in a wide range of challenging market environments will serve the Bank well as we continue to restore trust in our brand and focus on building a credible, efficient and differentiated alternative for customers.”
“His contribution as the senior independent director over the last nine months has been invaluable and I’m pleased that the bank will continue to benefit from his experience, counsel and existing institutional knowledge as we continue the work required to turn the Bank around.”
Mr Holt said: “I am delighted to have been appointed to chair The Co-operative Bank and look forward to continuing to work with the board, the executive and the staff. Considerable progress has been made over the last twelve months and we are clear on what remains to be done.
“I look forward to the challenge of completing this work and supporting Niall and his team as we build on our heritage of offering banking services rooted in strong ethics and values to individuals and small businesses.”
