Directors

Executive and non-executive directors of Lloyds Banking Group

The directors of Lloyds Banking Group are shown below. Biographical details are available by clicking on the relevant name.

EXECUTIVE DIRECTORS

António Horta-Osório

Executive Director and Group Chief Executive

Joined the Board in January 2011

Appointed Group Chief Executive in March 2011

António Horta-Osório: Executive Director and Group Chief Executive

Skills and experience: António brings extensive experience in, and understanding of, both retail and commercial banking. This has been built over a period of more than 25 years, working both internationally as well as in the UK. António’s drive, enthusiasm and commitment to customers, along with his proven ability to build and lead strong management teams, brings significant value to all stakeholders of Lloyds Banking Group. António has a Degree in Management & Business Administration from the Universidade Católica Portuguesa, an MBA from INSEAD and has completed the Advanced Management Program at Harvard Business School.

External appointments: António is a Non-Executive Director of Fundação Champalimaud and Sociedade Francisco Manuel dos Santos in Portugal and is a Governor of the London Business School.

Former appointments: António joined Grupo Santander in 1993, having previously worked for Goldman Sachs and for Citibank, and held various senior management positions culminating in becoming Executive Vice President of Grupo Santander and a member of its Management Committee. In November 2004, he was appointed as a Non-Executive Director of Santander UK and, from August 2006 until November 2010, served as its Chief Executive. António is also a former Non-Executive Director of the Court of the Bank of England.

Juan Colombás

Executive Director and Chief Risk Officer

Joined the Board on 29 November 2013

Juan Colombás, Executive Director and Chief Risk Officer

Skills and experience: Juan has significant banking and risk management experience, having spent 28 years working in these fields both internationally and in the UK. He has served as the Group’s Chief Risk Officer and as a member of the Group Executive Committee since January 2011. Juan is responsible for developing the Group’s risk framework, recommending its risk appetite and ensuring that all risks generated by the business are measured, reviewed and monitored on an ongoing basis. Juan has a BSc in Industrial Chemical Engineering from the Universidad Politécnica de Madrid, a Financial Management degree from ICADE School of Business and Economics and an MBA from the Institute de Empresa Business School.

External appointments: Member of the International Financial Risk Institute Executive Committee.

Former appointments: Juan was previously the Chief Risk Officer of Santander’s UK business. Prior to this position, he held a number of senior risk, control and business management roles across the Corporate, Investment, Retail and Risk Divisions of the Santander Group.

George Culmer

Executive Director and Chief Financial Officer

Joined the Board in May 2012

George Culmer, Chief Financial Officer

Skills and experience: George is a chartered accountant and has deep operational and financial expertise including strategic and financial planning and control. He has worked in financial services in the UK and overseas for over 20 years. With a strong background in insurance and shareholder advocacy, his skills and experience enhance the Board and strengthen further the senior management team. George is a chartered accountant and has a History degree from the University of Cambridge.

External appointments: None.

Former appointments: George was an Executive Director and Chief Financial Officer of RSA Insurance Group. He is also the former Head of Capital Management of Zurich Financial Services and Chief Financial Officer of its UK operations. George previously held various senior management positions at Prudential.

NON-EXECUTIVE DIRECTORS

Lord Blackwell

Chairman

Joined the Board in June 2012

Chairman of the Nomination & Governance Committee. Member of the Remuneration Committee and the Risk Committee



 

Lord Blackwell,

Skills and experience: Lord Blackwell has extensive insurance, banking, regulatory and public policy experience gained from senior positions in a wide range of industries. Lord Blackwell’s deep financial services knowledge and experience, leadership qualities and credibility with key stakeholders, made him the unanimous choice of the Board to succeed Sir Winfried as Chairman of Lloyds Banking Group. Lord Blackwell has an MA in Natural Sciences from the University of Cambridge, and a Ph.D in Finance and Economics and an MBA from the University of Pennsylvania.

External appointments: Lord Blackwell is the Chairman of Interserve plc. He is a Non-Executive Director of Halma plc.

Former appointments: Lord Blackwell was the Chairman of Scottish Widows Group and a Non-Executive Director of Ofcom. He is a former Senior Independent Director of Standard Life and chaired their UK Life and Pensions Board. He was a Non-Executive Director of Dixons Group and SEGRO, a member of the Board of the Centre for Policy Studies and a Non-Executive Member of the Office of Fair Trading. He was a partner of McKinsey & Co. and a Director of Group Development at NatWest Group. From 1995 to 1997, Lord Blackwell was Head of the Prime Minister’s Policy Unit and was appointed a Life Peer in 1997.

Anita Frew

Deputy Chairman and Independent Director

Joined the Board in December 2010

Chairman of the Board Risk Committee. Member of the Audit Committee, the Remuneration Committee and the Nomination & Governance Committee.

Anita Frew, Deputy Chairman and Independent Director

Skills and experience: Anita has extensive board, financial and general management experience across a range of sectors, including banking, asset management, manufacturing and utilities. Her breadth of experience and strong leadership qualities make her an effective Deputy Chairman. Anita is the Chairman of the Board Risk Committee and the Responsible Business Committee. She has a BA (Hons) in Business from the University of Strathclyde and a MRes in Humanities and Philosophy from the University of London.

External appointments: Anita is the Chairman of Victrex plc, having previously been its Senior Independent Director, and is a Senior Independent Director of Aberdeen Asset Management and IMI.

Former appointments: Anita was an Executive Director of Abbott Mead Vickers, Director of Corporate Development at WPP Group and a Non-Executive Director of Northumbrian Water. She has held various investment and marketing roles at Scottish Provident and the Royal Bank of Scotland.

Carolyn Fairbairn

Independent Director

Joined the Board in June 2012

Member of the Audit Committee and the Remuneration Committee

Carolyn Fairbairn, Independent Director

Skills and experience: Carolyn has extensive digital and on-line, government and regulatory experience gained across a range of sectors including media and financial services. With her broad experience and strong analytical mind, Carolyn plays an active part in reviewing the strategy of the Board and contributing to the debate at Board and Committee meetings. Carolyn has a BA in Economics from the University of Cambridge, an MA in International Relations from the University of Pennsylvania and an MBA from INSEAD.

External appointments: Carolyn is a Non-Executive Director of The Vitec Group and is the Chairman of its Remuneration Committee. She is a trustee of Marie Curie and a Non‑Executive Director of Capita, the Competition and Markets Authority and the UK Statistics Authority.

Former appointments: Carolyn was a Non-Executive Director of the Financial Services Authority and chaired their Risk Committee, a Director of Group Development and Strategy at ITV plc and Director of Strategy and a member of the Executive Board at the BBC. She is a former partner of McKinsey & Co. and was a policy adviser in the Prime Minister’s Policy Unit. Carolyn began her career as an Economist at the World Bank.

Dyfrig John CBE

Independent Director

Joined the Board on 1 January 2014

Member of the Audit Committee and the Risk Committee

Dyfrig John CBE, Independent Director

 
Skills and experience:
Dyfrig has spent his career in banking, principally at HSBC where he worked for 37 years. During that time he held a number of senior management and Board positions in the UK and overseas including Chief Executive Officer of HSBC Bank PLC. He has the knowledge and experience to provide valuable insight and contribute effectively as a Non-Executive Director and Member of the Audit Committee and Risk Committee. Dyfrig has a Sloan Fellowship from the London Business School. He is also a Fellow of the Chartered Institute of Bankers.

External appointments: Dyfrig is a Member of the Welsh Rugby Union’s Audit Committee.

Former appointments: Dyfrig is the former Chairman of Principality Building Society. He was a Director of HSBC Bank PLC from 2003 to 2009, Chief Executive Officer from 2006 to 2009 and Deputy Chairman from 2008 to 2009. Prior to joining the Board of HSBC Bank PLC, he held a number of senior roles including Group Managing Director and member of the Group Management Board. Dyfrig is a former Board member of the Wales Millennium Centre.

Nicholas Luff

Independent Director

Joined the Board in March 2013

Chairman of the Audit Committee. Member of the Risk Committee

Nicholas Luff, Independent Director

Skills and experience: Nick is a chartered accountant and has significant financial experience in the UK listed environment having served in a number of senior finance positions within a range of sectors. His background and experience enables him to fulfil the role of Audit Committee Chair and, for SEC purposes, the role of Audit Committee Financial Expert. Nick is a Mathematics graduate from the University of Oxford.

External appointments: Nick is currently the Group Finance Director of Centrica. He will step down from the Centrica Board before the end of 2014 to take up a new position as Chief Financial Officer of Reed Elsevier.

Former appointments: Nick was previously Finance Director of The Peninsular & Oriental Steam Navigation Company and Chief Financial Officer of P&O Princess Cruises plc. Until December 2010, he served as a Non-Executive Director and was the Audit Committee Chair of QinetiQ Group. Nick started his career with KPMG where he qualified as a chartered accountant in 1991.

Anthony Watson CBE

Senior Independent Director

Joined the Board in April 2009

Chairman of the Remuneration Committee. Member of the Audit Committee, the Risk Committee and the Nomination & Governance Committee

Anthony Watson CBE, Senior Independent Director

Skills and experience: Tony is Senior Independent Director and Chair of the Remuneration Committee. He maintains close dialogue with shareholders with the aim of aligning executive reward with shareholder interests. With over 40 years of experience in the investment management industry and related sectors, he is well placed to carry out these roles. Tony is a Barrister at Law. He has a BSc (Hons) in Economics from the Queen’s University Belfast, a Diploma in Security Analysis from the New York Institute of Finance and was called to the Bar of England and Wales.

External appointments: Tony is a Non-Executive Director of Vodafone Group, Senior Independent Director of Hammerson and Witan Investment Trust, Chairman of the Lincoln’s Inn Investment Committee and a member of the Norges Bank Investment Management Corporate Governance Advisory Board.

Former appointments: Former Chief Executive of Hermes Pensions Management and formerly Chairman of the Asian Infrastructure Fund, MEPC and of the Strategic Investment Board (Northern Ireland). Former Member of the Financial Reporting Council and the Marks & Spencer Pension Trustees.

Sara Weller

Independent Director

Joined the Board in February 2012

Member of the Remuneration Committee and the Risk Committee

Sara Weller, Independent Director

Skills and experience: With a background in retail and associated sectors, including financial services, Sara brings a broad perspective to the Board. She is a strong advocate of customers and of the application of new technology, both of which directly support Lloyds Banking Group’s strategy. Sara has considerable experience of boards at both executive and non-executive level. She has an MA in Chemistry from Oxford University.

External appointments: Sara is a Non-Executive Director of United Utilities Group and Chair of their Remuneration Committee.

Former appointments: Sara is the former Managing Director of Argos. She held various senior positions at J Sainsbury including Deputy Managing Director and served on its Board between January 2002 and May 2004. She was a Non-Executive Director of Mitchells & Butler and also held senior management roles for Abbey National and Mars Confectionery.

Nick Prettejohn

Independent Director

Joined the Board on 23 June 2014

Chairman of Scottish Widows Group.

Member of the Audit Committee and the Risk Committee

 

Nick Prettejohn, Independent Director

Skills and experience: Nick has significant financial services experience, particularly in insurance where he has served as Chief Executive of Lloyd’s of London and Prudential UK and Europe as well as Chairman of Brit Insurance.  He has the knowledge and experience to provide valuable insight and contribute effectively as a Non-Executive Director and Member of the Audit Committee and Risk Committee. Nick has a First Class Degree in Philosophy, Politics and Economics from the Balliol College, University of Oxford.

External appointments: Nick is a member of the BBC Trust. He is Chairman of the Britten-Pears Foundation and Chairman of the Royal Northern College of Music.

Former appointments: Nick was a Non-executive Director of the Prudential Regulation Authority. Prior to this role, he was Chairman of Brit Insurance and from 2010 to 2013 a Non-Executive Director of Legal and General Plc.  He is a former Chief Executive of Lloyd’s of London and a member of the Lloyd’s Council.  From 2006 to 2009 he was Chief Executive of Prudential UK and Europe and a member of the Prudential plc board.  From 2007 until 2009 he was Chairman of the Financial Services Practitioner Panel.

Simon Henry

Independent Director

Joined the Board on 26 June 2014

Member of the Audit Committee and the Risk Committee

 

 

 

Simon Henry, Independent Director

Skills and experience: Simon has deep international experience in board level strategy and execution. His extensive knowledge of financial markets, treasury and risk management and his qualification as an Audit Committee Financial Expert is of particular value in our important Risk and Audit Committees. Simon has a BA in Mathematics and an MA from the University of Cambridge. He is a fellow of the Chartered Institute of Management Accountants.

External appointments: Simon is the Chief Financial Officer and an Executive Director of Royal Dutch Shell plc, a position he has held since May 2009, with responsibility for Shell’s Finance, IT, Strategy and Planning functions.  He is member of the Main Committee of the 100 Group of UK FTSE CFOs and Chair of the European Round Table CFO Taskforce. 

Former appointments: Simon was Shell’s Chief Financial Officer for Exploration & Production from 2004 to 2009 and Head of Group Investor Relations from 2001 to 2004.  Prior to these roles, Mr Henry held various finance posts within Shell, whom he joined in 1982.

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