UK Finance names new boss after sexism storm

David Postings is currently a non-executive director at UK Finance, and had recently served as Bibby Financial Services chief executive

Britain’s largest bank lobby group UK Finance has chosen David Postings as its new chief executive, as it seeks to recover from a sexism row earlier this year. 

Mr Postings, the former chief executive of Bibby Financial Services and Moneycorp, will be taking up the post from next January, UK Finance said this evening. It said his appointment had received the unanimous support of the board.

The news was first reported by Sky News.

Mr Postings is currently a non-executive director at UK Finance. His planned shift into the new post comes four months after former CEO Stephen Jones quit following accusations that he had made “thoroughly unpleasant personal comments” about financier Amanda Staveley when he was an investment banker at Barclays. 

The Telegraph had reported in June that Mr Jones's comments from 2008 were likely to come out in a blockbuster court case brought by Ms Staveley against Barclays.

In July, the High Court heard Mr Jones had called Ms Staveley “thick as s---” and had joked about the size of her breasts.

Mr Jones said he “probably had forgotten” that his phone calls inside the bank were recorded, and that he had probably not realised they might be produced in a trial.

"Had I realised that, I'm pretty sure I wouldn't have said the things I said".

A spokesman for Mr Jones had said he regretted making the comments. He had been seen as a champion for gender equality, throwing his support behind the Women in Finance Charter to promote more women in banking roles. 

The trial continues.

Mr Postings will be moving into the new role at a time when the industry is battling to ward off reputational damage as brands seek to recover emergency loans handed out during the pandemic. 

Banks were last month said to be weighing up setting up a joint debt collection agency, to protect themselves against being cast as villains.