FDs on the move at Abbey, Pearson

First, Abbey National has named Stephen Hester as its new group finance director, taking over from Mark Pain, who now runs Abbey’s wholesale banking division.

Hester had previously worked for Credit Suisse First Boston, but left at the end of last year, following a management re-shuffle.

At the same time, Rona Fairhead is to step up at Pearson to become the publishing group’s FD.

She replaces John Mackinson, who is moving across the group to become Penguin’s chief executive.

Fairhead’s promotion will make Pearson the first FTSE 100 company to have women in its top two roles – Dame Marjorie Scardino is the group’s chief executive.

Finally, stockbroker Teather & Greenwood is losing its FD Brian Rowbotham, who is the latest victim of a cost-cutting exercise that has seen 50 staff axed in the past few months.

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