Permira hires Sir Mervyn Pedelty

Sir Mervyn, who has worked with Permira in the past, retired as chief executive ofThe Co-operative Bank plc, the Co-operative Insurance Society and Co-operativeFinancial Services in December 2004. Prior to joining The Co-operative Bank in1997, he was a partner of strategy consulting firm L.E.K. Consulting. From 1987 to1994 he was a senior executive of TSB Group including being finance director ofTSB Retail Banking and Insurance and then chief executive of TSB Group’sCommercial Operations. His earlier career included extensive experience in theelectronics, electro-mechanical and motor industries.

A Chartered Accountant and a Fellow of the Institute of Bankers, Sir Mervyn willwork with Permira on identifying and evaluating opportunities for the PermiraFunds in the financial services sector, and other sectors, across Europe.His other appointments include: non-executive director of Hiscox Plc, thespecialist listed insurance group; chairman of the FTSE4Good Policy Committee;director of Business in the Community; and a member of the DWP Employer TaskForce on Pensions. Sir Mervyn was also a director of the Association of BritishInsurers (ABI) from 2002 to 2004 and is a previous Council Member, and memberof the Chief Executives’ Committee, of the British Bankers’ Association (BBA).

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