Co-op Bank recruits Alastair Pegg to marketing director post as brand rebuild begins

Npower marketer Alastair Pegg is to join The Co-operative Bank as marketing director, as the embattled financial services brand looks to rebuild its image.

Co-operative Bank: hires Alastair Pegg as marketing director
Co-operative Bank: hires Alastair Pegg as marketing director

Pegg, a former head of brands and marketing at building society Nationwide, joined Npower as head of engagement marketing in September last year, reporting to director of customer marketing Debbie Britton.

He will take up his new role at the end of September.

He joins Co-operative Bank following a traumatic period in which it failed in its attempt to acquire 632 high-street branches from Lloyds Banking Group. It had to be rescued after the discovery of a £1.5bn "black hole" in its balance sheet.

It also had to endure lurid revelations over its former chairman Paul Flowers, following which the brand ran an ad campaign thanking customers for their "overwhelming loyalty and support".

In April, Co-operative Group chief executive Euan Sutherland resigned from his post with immediate effect, describing the troubled mutual as "ungovernable", while group marketing director Gill Barr relinquished her place on the board as part of a management shake-up.

During his three and a half years at Nationwide, Pegg was led the development of the brand’s 'On Your Side' marketing strategy.

Prior to joining Nationwide, Pegg held marketing roles at Powergen, Norwich Union, Virgin Money and Vodafone, where he was interim head of brand and sponsorship.

The Co-operative Bank had not returned a request for comment at the time of publishing.

Subscribe to Campaign from just £57 per quarter

Includes the weekly magazine and quarterly Campaign IQ, plus unrestricted online access.


Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now

1 Martin Freeman fronts Vodafone UK's first integrated ad campaign by Ogilvy

The Hobbit and Sherlock star Martin Freeman plays a rude wedding guest in Vodafone's first integrated ad campaign since the telecoms giant moved its UK ad business to Ogilvy & Mather earlier this year.

Case study: How 'This girl can' got 1.6 million women exercising

1 Case study: How 'This girl can' got 1.6 million women exercising

"This girl can" was based on a powerful insight: that the fear of judgement by others is the primary barrier holding women back from participating in sport.

Just published