City of London Group CEO stands down

City of London said Goldstein, who has been the company's CEO since 2017, was central to the implementation of a new strategy for the group, including the development of its Recognise Bank unit from a fledgling idea through to a fully authorised bank serving small and medium enterprises.

The AIM-listed firm chose not to provide any details on the state of its search for a successor.

Chairman Philip Jenks said: "On behalf of the Board and everyone at the group, I would like to thank Michael for his leadership and passion over the last few years, navigating the challenges that every start-up bank faces, to the point that Recognise Bank is now one of only a handful of banks to become fully-authorised since the start of the Covid pandemic."

As of 1115 GMT, City of London shares were up 4.09% at 59.85p.