Sir Christopher Kelly
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Co-op bosses failed 'on many levels', says report

The Co-operative Bank's merger with the Britannia building society in 2009 should never have happened, according to a major review of the organisation.

Sir Christopher Kelly's report blames the deal for the bank's near-collapse last year and points to failings in management "on many levels".

He told the BBC's Business Editor Kamal Ahmed: "It's easy to blame individuals... but what I've tried to show is that this was a systematic failure."

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