Investec Bank (Channel Islands) has appointed Stephen Henry as managing director of the international banking group.
He will replace the current MD, Mort Mirghavameddin, who will step down in September to pursue other interests.
Henry is currently finance director at the Guernsey-based bank and will start his new role in September subject to regulatory approval. He has been with the firm for 13 years, working closely with Mirghavameddin.
Mirghavameddin says: "Stephen has been closely involved in the strategic direction of the business throughout my time and I'm sure will prove to be an excellent choice of leader to take the business forward."
The company has seen profits grow from £8m in 2005 to nearly £21m in 2008. Its client deposit book has also increased from £811.8m to £1.671bn over the same period.
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