Tesco Bank adds John Kingman to its board

Credit: REUTERS/Phil Noble

Tesco's financial arm confirmed on Monday that it has appointed John Kingman, the businessman who oversaw Britain's bailout of its banks in the financial crisis, to its board as a non-executive director.

Oct 7 (Reuters) - Tesco's TSCO.L financial arm confirmed on Monday that it has appointed John Kingman, the businessman who oversaw Britain's bailout of its banks in the financial crisis, to its board as a non-executive director.

Kingman was closely involved in the British government's response to the 2008 financial crisis as Second Permanent Secretary to the treasury, and his appointment is effective next month, Tesco Bank said in a statement.

Kingman, the former chairman of Legal & General Group Plc LGEN.L, had been reported as a possible contender to be the next governor of the Bank of England, although he has said he does not want the role.

(Reporting by Muvija M in Bengaluru; Editing by Bernard Orr)

((muvija.m@tr.com; within UK +44 20 7542 1810, outside UK +91 80 6749 3638;))

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