Barry Tootell, CEO, The Co-operative Banking Group, has chosen to step down from the business and from the Board of The Co-operative Bank plc. His responsibilities will be assumed with immediate effect by Rod Bulmer, who becomes acting CEO of the Banking Group and a Director of The Co-operative Bank plc, until a permanent replacement is announced in due course.
Barry took over the role of CEO to lead the banking business through the potential acquisition of the Lloyds Banking Group Verde Business. Following the recent decision by The Co-operative Group and Banking Group Boards to withdraw from the Verde process, Barry has decided that the time is now right for him to stand down from his role.
Rod Bulmer has been with The Co-operative Group for 6 years and during that period has held of number of senior executive roles within The Banking Group, most notably within its retail banking operation. Prior to joining The Co-operative Group he headed up UK Retail Distribution for Santander.
For further information contact:
The Co-operative Group
Tel: 07880 784442 / 07831 314671
Tel: 020 7353 4200