MOVES-UK Co-operative Bank chairman to step down

Reuters

July 14 (Reuters) - UK's Co-operative Bank Chairman Richard Pym will step down to join Allied Irish Banks as its chairman.

Pym will step down on Oct. 1, Co-operative Bank.

Senior independent director Dennis Holt, who has more than 36 years of experience in the banking and insurance industry, will act as interim chairman until a successor can be confirmed, Co-operative Bank said.

State-owned Allied Irish Banks said on Monday Pym will take over from former HSBC executive David Hodgkinson in October.

Pym is also chairman of UK Asset Resolution (UKAR), Britain's "bad bank" which is winding down the loans of Northern Rock and Bradford & Bingley.

Co-operative Bank also named Liam Coleman as director, retail and commercial bank. Coleman joined the bank in June 2013 as treasurer.

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