A top bank has suffered a severe loss after being stranded by two of its heavyweight employees.
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div>A top bank has suffered a severe loss after being stranded by two of its heavyweight employees.
OneSavings Bank announced last Friday that two of its senior staff have retired from its Board of Directors.
Both Sir Callum McCarthy and David Mills have stepped down as Non-Executive Directors of the company, leaving behind a combined legacy of over 70 years in the financial industry.
Andy Golding, OneSavings Bank's Chief Executive Officer, said: “Both David and Callum have been instrumental in the development of the business. David has been an outstanding Senior Independent Director providing [safe] advice and guidance to the business during a period of rapid change and development.”
Sir Callum was previously Chairman of the Financial Services Authority, and Chairman and CEO of Ofgem.
Sir Callum held senior positions at Barclays Bank, including Chief Executive Officer for the Barclays Group first in Japan and then in North America. Prior to this, he was Managing Director and Deputy Head of Corporate Finance at Barclays de Zoete Wedd, London.
David was the Chief Executive of the Post Office and a Director of Royal Mail Holdings plc from 2002 to 2005 before joining Cardpoint (which later merged with Payzone plc), as the Senior Independent Director in 2006.
Prior to his roles at the Post Office, David spent 40 years first with Midland Bank plc and then HSBC Bank plc in the UK, directing, managing and controlling the Personal Banking Sector.
Mr Golding added: “The Bank has benefited greatly from Callum's exceptional knowledge and experience of the financial services industry, and I would like to extend the Board's heartfelt thanks to both directors and wish them both well for the future."
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