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Co-op Bank hedge funds shake up board after failed bid

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The American investors which control the Co-operative Bank are lining up their first board nominees weeks after talks about a sale of the self-styled ethical lender were abandoned.Sky News has learnt that the syndicate of hedge funds, which includes GoldenTree Asset Management, are finalising the appointment of two heavyweight City figures as non-executive directors of the company.
City sources said on Sunday that Sebastian Grigg, a former Credit Suisse banker who advised the government during the 2008 financial crisis, and Richard Slimmon, a partner at the independent advisory firm Gleacher Shacklock, were likely to be appointed as soon as this …

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