Alastair Pegg, currently head of engagement marketing at npower, is to join The Co-operative Bank as marketing director.

Pegg is also a former head of brands and marketing at Nationwide and has had previous roles at Vodafone, Aviva, Virgin Money and Norwich Union.

He will start at the Manchester-based Co-op Bank in September, but we’re still waiting for confirmation as to whether Pegg will be moving North for the role.

Alastair Pegg

Alastair Pegg

Either way, Pegg faces an enormous task to rebuild the image of a bank that has become so tarnished over the past year or so.

Last year it had to be rescued after the discovery of a £1.5bn black hole in its finances, the legacy of its attempt to acquire over 600 branches from Lloyds.

Then came a string of tabloid revelations about its former chairman, Rev Paul Flowers, followed by the unseemly struggle between the Group’s former chief executive Euan Sutherland and the board, and the subsequent Lord Myners report.

Last month, Gill Barr left as marketing director of the Group.