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Co-op customers 'would do well to stay'

28 May 2013 Last updated at 10:01 BST

Troubled lender Co-operative Bank has appointed a former HSBC banker as its new chief executive.

Niall Booker, the former head of HSBC's North American operations, will take over at Co-op as it faces questions over its capital position.

Independent banking commentator Frances Coppola told Today presenter Simon Jack that the Co-op would "stand a good chance" with the new leadership.

She went on to say that while the situation that the Co-op is in is not easy, she advised that customers "would do well to stay" with the bank, and they should be encouraged that the Coop has promised to "stand by their bank and sort it out".

First broadcast on the Today programme on Tuesday 28 May.