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The Co-operative Group has bolstered its board with the appointment of a new finance director. It has also signalled its determination to remain in the financial services business by naming a new chairman for its loss-making banking arm.

As talks with regulators continue about finding a solution to plug a capital shortfall in its bank of as much as £1.8bn, the Co-op named Richard Pym as its chairman. Pym, who runs a bailed-out banking division for the government, said his new appointment would ensure the Co-op would continue to provide customers with an alternative choice to the traditional banks.

The finance director of the supermarket chain Morrisons, Richard Pennycook, is also...

People dressed in $100 bill costumes and face masks marched outside the Capitol on Wednesday in Albany. Protestors were calling on the legislature to pass a comprehensive reform bill with public financing of elections.

Equity Bank Ltd., Kenya’s biggest
lender, has restructured its operations and promoted John Staley
to chief officer in charge of finance, innovation and
technology, the Nairobi-based company said in a statement.

Staley, who is currently the director of mobile banking and
payment innovations, will replace chief finance officer Samson Oduor, who left the bank in March.

Equity’s board of directors also promoted Joseph Iha to
Managing Director of its unit in Tanzania.

Staley, who becomes the fifth head of finance at Equity
since 2010, will be supported by finance executives Fredrick
Omondi and Sammy Kamanthi Ndetiu.

“The...

AUSTIN – A judge who previously ruled Texas public school finance system unconstitutional may reopen the case to consider the impact of subsequent legislative action, including an infusion of money and a cutback in some requirements.

State District Judge John Dietz on Wednesday indicated hes willing to have a hearing if theres substantial agreement to do so among the parties, after a lawyer for higher-wealth school districts asked him to reopen it and a state lawyer said a hearing would be in order.

Property-poor school districts werent as quick to jump on the bandwagon for a new hearing, noting that while lawmakers have acted, Gov. Rick Perry will decide how much of their...

Most UK financial-services
employees say some within their companies are paid too much amid
negative public sentiment toward the industry, according to a
survey by the Chartered Institute of Personnel amp; Development.

Three-quarters of those surveyed said some colleagues are
paid “excessively,” the CIPD said in a report called “Focus
on Rebuilding Trust in the City,” published on its website. The
study found 79 percent of those below senior management are most
likely to say some workers are overpaid.

“Half of respondents working in banking and financial
services say that the negative public perception of the banking
sector...