The Co-operative Bank is looking for its fifth chief executive in seven years after Liam Coleman said he planned to step down from the lossmaking British lender having helped it to secure a financial rescue package last year. Mr Coleman, 51, leaves the post after five years with the ethically-focused bank, which has been through a torrid time since revealing a £1.5bn capital shortfall in 2013. Last year, the Co-op Bank agreed a £700m rescue deal, which involved capital being injected from its hedge fund owners and bondholders to avoid being wound down by the Bank of England after it failed to find a buyer. It is only 18 months since Mr Coleman stepped up from being deputy chief executive to take the reins from Niall Booker, the former HSBC executive who came out of retirement in 2013 to turn the bank round but left in 2016 after posting an annual loss of £610m. I