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Article: A&L targets small business market
- Article from:
- The Independent (London, England)
- Article date:
- July 20, 2000
- Author:
CopyrightCopyright 2000 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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THE HIGH STREET bank Alliance & Leicester said yesterday it is
looking to boost its 2-3 per cent share of the small business market
following a sweeping management reorganisation.
The new structure, which replaces the traditional product-based
organisation with a "customer-facing" operation, is seen as an
attempt by the new managing director, Peter McNamara, to put his
stamp on the bank and shore up City confidence after a 37 per cent
fall in A&L's share price this year. The group has been seen in the
City as rudderless since the sudden departure of Peter White as chief
executive last year.
However, the changes - which were announced just two days before