Ex-Aldermore chief to join Co-Op bank

Michael Bow
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THE CO-OPERATIVE Bank yesterday named former Aldermore chief financial officer (CFO) John Baines as interim CFO, little over a month after his predecessor at the Co-Op moved in the other direction.

Baines, a veteran financial officer who was chief executive of RBS’ wealth management division and CFO of UBS’ European wealth management before joining Aldermore in 2010, will replace James Mack.

Mack was CFO at the Co-operative Bank until February when he left to join Aldermore – stepping into Baines’ shoes.

The Co-Op is currently hoping to buy 632 branches from Lloyds Banking Group after striking a deal.