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City of London Group PLC - operates Recognise Bank for UK small and medium enterprises - Chief Executive Officer Michael Goldstein steps down immediately, having served since 2017 and played a major part in setting up Recognise Bank. ‘I committed to work with the board until we felt that Recognise Bank was sufficiently strong for me to step away,’ Goldstein says. ‘This has been achieved.’ COLG doesn't say how or if Goldstein will be replaced. Chair Philip Jenks credits Goldstein for developing Recognise and streamlining the rest of the group to focus on that subsidiary. ‘Recognise Bank is now one of only a handful of banks to become fully-authorised since the start of the COVID pandemic,’ Jenks says. Recognise Bank got its full banking license in September.
Current stock price: 59.85 pence
12-month change: down 21%
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