The former NatWest marketing director was hired at the end of last year to join Tesco's fledgling financial services operation from her role as chief executive of Royal Bank of Scotland's European Consumer Finance (ECF) division. Her departure has stunned insiders because she was brought in by TPF's chief executive Benny Higgins, who she worked under when he was chief executive of Retail Banking at RBS.
Rowe spent seven years at RBS Group, including a stint as managing director of NatWest Retail Banking, with responsibility for its branch network and its Premium and Business Banking brands.
Prior to joining RBS in 2001, Rowe had held a range of marketing and product development roles at financial services business GE Capital.
Rowe joined Tesco following its £950m acquisition of RBS' 50% stake in TPF, and oversaw the launch of its first in-store bank branches.
Following a trial in Glasgow, the first branches opened in Tesco Extra stores in Coventry and Blackpool. The retailer plans to roll out 30 banks by the end of the year.
The banks offer existing TPF products, including insurance, credit cards and savings accounts, as well as a terminal for TescoCompare.com.
Tesco has plans to offer current accounts within the next 18 months, but has set no fixed date for the launch of a range of mortgage products.
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