Grigg, Slimmon Set to Join Co-Op Bank Board, Sky News Reports

The U.S. investors that control the Co-Operative Bank are preparing to appoint their first board nominees after talks over a sale of the lender were abandoned, Sky News reported.

The group of hedge funds, which includes GoldenTree Asset Management, is finalizing the appointment of Sebastian Grigg and Richard Slimmon as non-executive directors of the bank, Sky said, without giving the source of its information.

Ex-Credit Suisse banker Grigg and Slimmon, a partner at advisory firm Gleacher Shacklock, may be appointed as soon as this week, according to Sky. An unidentified spokesman for the British bank declined to comment, Sky said.

The bank said on Dec. 21 that an approach from an unidentified bidder to buy the struggling lender had collapsed.

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