Half of Europe's biggest banks have changed their chief executive or chairman in the past 12 months, leaving question marks over their leadership experience just as the first signs emerge of an economic recovery.

Ten of Europe's 20 largest banks by market capitalization or scale of investment banking operations have appointed new heads during the period, according to research by Financial News.

"Data from proxy voting agency Manifest showed that average chief executive tenure for UK banks was only 32 months over the last nine years, with chairman tenure averaging 37 months."

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