After three years as its chief executive, Bob Head is to leave the Co-operative Bank's Internet operation smile.
In a brief statement, the bank says Head is quitting 'to pursue new challenges nearer to his home in the South East'.
As a result of Head's departure Sheila Macdonald, executive director, CFS and COO, Co-operative Bank, will assume responsibility for smile, with effect from 1 February 2003.