FD Roger Boyes will stand down after the merger between Halifax and Bank of Scotland is approved and will be replaced in the new organisation by Mike Ellis, currently Halifax’s chief operating officer.
Aged 57, Boyes became FD in 1995 when the Halifax merged with Leeds Permanent building society.
The news came as Halifax and Bank of Scotland announced details of its planned merger, including the location of its head office and management structure.
Chairman of the new bank, to be known as HBOS, will be Lord Stevenson, currently Halifax’s chairman, with Peter Burt, currently chief exec of BoS taking over as full-time deputy chairman.
Halifax’s chief executive James Crosby will retain his position in HBOS.Gordon McQueen, BoS’s head of treasury and finance and de facto FD will become head of treasury for HBOS.
A spokesperson for Halifax confirmed Boyes’ retirement but added it was too early to say whether the proposed 2,000 job cuts would affect other finance staff in the two banks.B>Links
Bank of ScotlandHalifax and BoS merger mystery
Andrew Tyrie airs views on the Finance Bill, 'Making Tax Policy Better' report, and Brexit
In our latest managing partner Q&A looking towards 2017, CVR Global's Richard Toone talks about recruitment, and the potential threat of competition from the legal sector, as key issues for the firm in the coming year
Deloitte to avoid tendering for government contracts over the next six months, to appease Theresa May following consultant's report that painted a less-than-flattering picture of Brexit plans
In our first Q&A looking towards 2017, Menzies senior partner Julie Adams flags up increasing digitisation, aligned with more hands-on consultative services, as the key mix for her practice