Co-op beefs up governance by hiring new secretary from Lloyds

Tim Wallace
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THE EMBATTLED Co-operative Group yesterday hired Claire Davies as its new group secretary, replacing Moira Lees, who retired last month.

Solicitor Davies has held a range of relatively high profile roles at Lloyds, Legal and General, Ernst and Young and the Woolwich over 27 years and will be involved with the ongoing governance shakeup.

The Co-op Bank’s near collapse over the summer combined with the scandal around ex-bank chairman Reverend Paul Flowers – the so-called Crystal Methodist – have led the group to launch a major review of governance.

Lord Myners is heading the shakeup and plans to find a way to keep the democratic structure of the member-owned group while updating it to be more suitable for a major modern business.

Davies begins in March, reporting to group chairman Ursula Lidbetter.

“I’m delighted to welcome Claire to the group,” said group general counsel Alistair Asher.

“I know she will be a great addition to the senior team, especially as we work our way through the crucial governance review that the board is undertaking.”