Boutique bank Singer & Friedlander has appointed finance director Tony Shearer to take over as chief executive from John Hodson.
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Hodson, who has been with S&F for 35 years, has decided to retire and will be replaced by Shearer at the end of the year.
The news of personnel changes comes as the bank released results which showed a sharp improvements in profits.
It was recently the subject of takeover speculation involving Icelandic shareholders, the Daily Telegraph reported.