Alliance & Leicester reorganises Board members

  • Story by: Joy Dunbar
  • Magazine: FinancialAdviser
  • Published Friday , July 04, 2008

Alliance & Leicester (A&L) has reorganised the responsibilities of its board members and some senior managers.

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A&L said that these changes are aimed at redesigning the position of the group for the current and future operating environment.

As part of the changes, Ian Buchanan, currently group IT director, will join the board of Alliance & Leicester plc as group manufacturing director.

Richard Banks, currently managing director of commercial banking will become group risk director with overall responsibility for all of the group's risk management processes.

According to A&L, centralising responsibility for risk management will allow it to ensure it continues to meet its strategic objective of maintaining above average asset quality for its customer loans and advances.

Chris Rhodes, group finance director, will take responsibility for the group's treasury in addition to his current responsibilities.

Bryce Glover, currently director of corporate banking will become managing director of its Commercial Bank business, also reporting to David Bennett group chief executive.

Bennett said: "The revised organisation structure provides a strong basis for the successful delivery of our strategy, based on delivering great value to customers from an efficient group-wide operating model."

The principal changes in responsibilities will be effective from 7 July 2008.