The Co-operative Bank has appointed Andrew Bester as chief executive officer, effective immediately.
Bester will now begin the transition of responsibilities from current chief executive Liam Coleman, who has stepped down.
A qualified chartered accountant, whose career began with three years at PwC and subsequently three years at Deloitte, Bester joined Standard Chartered Bank in 2004, where he held senior leadership roles in wholesale banking in Africa and Asia.
In his most recent role as a group director and chief executive of the commercial banking division of Lloyds Banking Group he led the successful customer-focused turnaround and transformation of the commercial/wholesale banking business over five years from 2012.
Bob Dench, chairman of the bank, said: “I am delighted that we are appointing Andrew as chief executive. He is a first class business leader with the experience, drive and intellect required to lead the organisation forward at a key point in its turnaround journey.
“Five years ago, the Bank faced very significant problems and over that time we have made progress towards successfully tackling those issues. In Andrew we have found the right person to take us on to the next stage as we focus on achieving a sustainable profitable bank.
“Andrew’s understanding of the role business plays in the community and its potential to make a positive difference, and his achievements in leading inclusion and diversity, also make him an ideal choice as chief executive of The Co-operative Bank.
“I look forward to working with him as we take forward our strategy.”
In 2008 Bester took on the role of chief financial officer for Standard Chartered’s consumer banking division, and in 2011 he was appointed chief operating officer for Consumer Banking.
He also led on inclusion and diversity for Lloyds Banking Group and has multiple awards for his work including ‘Advocate of the Year’ at the 2017 Women in Finance Awards.
Bester said: “I am excited to be asked to lead The Co-operative Bank at this important time. The bank is a well- respected brand, with a long and rich history.
“It is much valued by its customers and colleagues, and continues to lead the way with its commitment to ethical, environmental and community matters.
“Over its recent history, the Bank has been through a period of great change and uncertainty and I look forward to working with the teams to return the business to its former strength.”