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Bank moves executives to fight crunch effect
Jul 9 2008 by Alex Turner, Liverpool Daily Post
ALLIANCE & Leicester has reorganised its senior management as it battles against the effects of the credit crunch.
The bank, which employs about 2,000 people in its Bootle commercial banking operation, has seen its share price fall nearly 80% in a year.
Richard Banks moves from managing director of commercial banking to become group risk director with overall responsibility for all of the Group’s risk management processes. He will continue to be based in Liverpool.
He is replaced by Bryce Glover, who has moved from his role as director of corporate banking but will remain in Manchester.
Mr Glover joined Alliance & Leicester in 2003 from the Co-operative Bank, where he was a main board director responsible for corporate and business banking.
The changes also see Ian Buchanan join the board as group manufacturing director.
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