REFILE-UK's Co-Op to name ex-HSBC executive Booker as CEO of bank -source

Mon May 27, 2013 9:26am EDT

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LONDON May 27 (Reuters) - Britain's The Co-operative Group is to appoint Niall Booker, a former senior banker at HSBC, as the new chief executive of its bank division, according to a source familiar with the situation.

Booker, who stepped down as the chief executive of HSBC's North America business in 2011, will replace Barry Tootell, who stepped down this month after Moody's downgraded its debt ratings and placed it under review for further downgrade.

The Co-operative Group declined immediate comment.

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California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

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