Alliance & Leicester Names New CEO, Bullish on Profit Growth

Alliance & Leicester, a British bank, said Wednesday it expects operating profit to be at the top end of the range of analysts' forecasts and revenue growth in the first half to be significantly higher than in the year-ago period.

The company did not provide specific figures.

At the same time, the company said current finance director David Bennett will become chief exective with effect from July 27, following the February announcement that Richard Pym planned to stand down.

Chris Rhodes, managing director of the retail banking business, will become finance director, the company said in a statement.

"The search process we went through was extremely thorough, and we are delighted to appoint David Bennett," said Chairman Derek Higgs.

The stock rose 1.3% to 1,118 pence on the London Stock Exchange.

Alliance & Leicester will post first-half earnings July 27.