Adam Applegarth, Northern Rock’s chief executive, has left the bank. He will be replaced by Andy Kuipers, subject to the UK Financial Services Authority’s approval.Applegarth had worked at Northern Rock for 24 years. He leaves after a troubled third quarter at the bank, which struggled to find funding when one of its main sources of income - the short-term money markets - was hit by a lack of liquidity in August and September.
Before Kuipers' appointment as chief executive, he was responsible for the co-ordination and direction of the company's sales, marketing, products, pricing and retention activities. Kuipers joined Northern Rock in 1987, having previously worked in banking in Holland. He was appointed to the board of Northern Rock as an executive director in January 2005.
More on People
Head of clearing and risk understood to be moving into private practice
Dealer rejigs multi-asset group management with internal promotions
Gérardin replaces Papiasse, who stays, but focuses on "remediation plan"
Former SG Asia sales head Nicolas Reille joins Natixis in Hong Kong
Sign up for Risk.net email alerts
Nominated for two technology awards
Nominated for post trade technology award
Sponsored webinar: Collateral and counterparty tracking
Isda directors warn on fragmentation, access and liquidity - but expect problems to pass
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.