RBS veteran Jim Brown takes the helm at Sainsbury's Bank
Sainsbury’s has appointed Jim Brown as CEO at Sainsbury’s Bank. He replaces Peter Griffiths, who is retiring after running the FI since 2012.
Brown worked for Royal Bank of Scotland from 2015-2017 as Chief Executive, Williams and Glyn. He was Chief Executive at Ulster Bank Group from 2011-2015, and Chief Executive of Retail and Commercial Markets, Asia for RBS Asia from 2005-2011.
Mike Coupe, CEO at Sainsbury’s, says: “Jim has a wealth of experience and a strong track record of leading banks through significant change, which will help him lead Sainsbury’s Bank through the next stage of its journey.”
Brown comments: “Sainsbury’s has a very strong brand and is well trusted by its customers. The combination of Sainsbury’s, Argos and Nectar, along with Sainsbury’s Bank, provides a real and unique opportunity to offer customers easy access to digitally-led financial services.”
Sainsbury’s Bank increased customers by 5% to two million in the 2018/19 financial year, although financial services operating profits decreased to £31 million. 74% of its customers have a Nectar card.