Tuesday 27 June 2017

Robert Elliott to replace Alan Cook as next Permanent TSB chairman

Permanent TSB. Photo: Collins
Permanent TSB. Photo: Collins
Independent.ie Business Desk

Permanent TSB Group Holdings has announced that Robert Elliott will be the next Chairman of the Group.

Mr Elliott will join the Board as Chairman from the end of March and will succeed Mr. Alan Cook, who retires from the Board at that date, on completion of his six-year term as Chairman.

“Permanent TSB has done a tremendous job of recovering from the financial crisis and is now concentrating strongly on building a best-in-class retail and SME bank," he said.

"With my colleagues on the Board and the Senior Management Team, I am looking forward to helping lead the Bank through the next phase of its journey and demonstrating that it can play a valuable role as a competitive, customer focused bank to the benefit of all its stakeholders and ultimately its owners.”

Recently retired as Chairman and Senior Partner from one of the largest law firms in the world, Linklaters LLP, Mr. Elliott continues to work with Linklaters part-time as Chairman Emeritus and Partner Consultant.

Before becoming Chairman of the firm, Mr. Elliott held the position of Global Head of Banking, responsible for approximately 65 partners in 22 countries around the world and, advised on major UK and international banking and restructuring projects.

These included the administration of Enron Europe in 2001, the acting for the investor group in a $4bn strategic investment in Bank of China in 2005, the £12bn rights issue for Royal Bank of Scotland in 2008 and the £45bn recapitalisation of Royal Bank of Scotland and asset protection scheme in 2009.

Jeremy Masding, Group Chief Executive of Permanent TSB, said that the Group was delighted that Mr. Elliott would be the next Chairman.

“Robert is one of the outstanding lawyers of his generation and has an exceptional expertise in banking. He is also an outstanding businessman and has overseen Linklaters LLP with great success over many years," he said.

"We are delighted that he will be joining the Group as Chairman and we look forward to his leadership over the coming months and years.”

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