February 2, 2018 / 11:09 AM / 10 months ago

Britain's Co-operative Bank names Bob Dench as chairman​

LONDON, Feb 2 (Reuters) - Britain’s Co-operative Bank has named former chairman of Paragon Banking Group Bob Dench as chairman, Co-op Bank said on Friday, as it seeks to further its recovery following a $900 million rescue by investors last year.

Dench will join Co-op Bank on March 14, succeeding Dennis Holt who is retiring.

The bank agreed a restructuring and recapitalisation plan last June with U.S. hedge fund creditors after its capital base fell to levels unacceptable to regulators hurt by restructuring costs and weak income.

Reporting by Lawrence White; editing by Jason Neely

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