Lloyds Banking Group announces changes to its management team
01 February 2012
Lloyds Banking Group (‘the Group’) has today announced changes to its management team. The changes are designed to ensure the Group has the optimum structure to support the implementation of its strategy announced last year.
In summary, the changes to the Group’s senior management organisational structure are:
- The LloydsTSB and Bank of Scotland Community Banks will continue to be led by Alison Brittain who also will take on responsibility for the Halifax Community Bank and Retail Products and Marketing including telephony and digital banking. Miguel-Ángel Rodriguez-Sola, Director of Special Projects, will take on the new position of Retail Commercial Strategy Director reporting to Alison.
- David Nicholson, Group Director, Halifax Community Bank, will continue as a member of the Group Executive Committee and will report to Alison Brittain. The bank remains committed to its multi-brand strategy.
- Antonio Lorenzo, Group Executive Committee Member for Group Strategy and the Wealth & International division, will take on responsibility for Asset Finance, which has previously been part of the Wholesale business.
- In order to provide greater focus in supporting the business through the next stage of its transformation, Human Resources, Legal & Secretariat, and Group Audit will report to a newly-created position of Group Corporate Functions Director. The Group Corporate Functions Director will be a member of the Group Executive Committee and the Group is currently recruiting for the role. The Group HR Director, Angie Risley, will continue as a member of the Group Executive Committee. Group Audit will have a dotted-line report to Chief Executive.
- The Group’s business areas - Retail, Commercial, Wholesale, Insurance, Wealth and International - will continue to report to the Group Chief Executive along with the supporting Group functions comprising Risk, Operations, Finance and Corporate Affairs.
- Truett Tate, Group Executive Director for Wholesale, has decided to retire from the Group and will not seek re-election as a Director at the Group’s Annual General Meeting on 17 May 2012. Truett will leave the Group during February. The role of Vice Chairman, Client Coverage will not now be filled as previously announced on 19 July 2011.
- As a result of Truett Tate’s departure, Andrew Géczy, Managing Director of Wholesale Banking and Markets, will report directly on an interim basis to Group Chief Executive, António Horta-Osório. The Group has begun a search, internally and externally, for a permanent Head of the Group’s Wholesale Division.
- The Group is continuing to discuss with RSA plc the timing of George Culmer’s start date as Group Finance Director.