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J Sainsbury Appoints Former RBS Executive As Boss Of Banking Unit.

LONDON (Alliance News) - J Sainsbury PLC on Tuesday said it has appointed former Royal Bank of Scotland PLC executive Jim Brown as chief executive officer of Sainsbury's Bank.

The supermarket chain said Brown will join as CEO designate of its lending arm from next Wednesday and will work with outgoing Sainsbury's Bank boss Peter Griffiths for a short period of handover. Griffiths is set to retire in 2020 after running the bank since November 2012.

J Sainsbury opened Sainsbury's Bank in 1997. It offer mortgages, credit card, savings and loans, as well as insurance products and travel money.

Brown was chief executive of Royal Bank of Scotland unit Williams & Glyn from 2015 to 2017. Previously, he was chief executive of Ulster Bank Group from 2011 to 2015 and chief executive of Retail and Commercial Markets, Asia for RBS Asia from 2005 to 2011.

"Jim has a wealth of experience and a strong track record of leading banks through significant change, which will help him lead Sainsbury's Bank through the next stage of its journey," said Sainsbury's Chief Executive Mike Coupe.

Shares in J Sainsbury were trading 0.1% higher at 199.05 pence each on Tuesday morning.

By Tapan Panchal; tapanpanchal@alliancenews.com

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Publication:Alliance Newswire
Date:Jun 11, 2019
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