Boards are collectively responsible for the long-term success of the Companies

The Group Board's role is to provide entrepreneurial leadership of the Company within a framework of prudent and effective controls.

It achieves this by setting the strategy and overseeing its delivery, establishing a culture, values and standards of the Group, ensuring that the Group manages risk effectively, monitoring financial performance and reporting and ensuring that appropriate and effective succession planning arrangements and policies are in place.

Lloyds Banking Group conducts its business through a number of subsidiaries including Lloyds Bank plc and Bank of Scotland plc. Together these are the Banks which undertake the ring-fenced banking (RFB) business of the Group.

Executive Directors


The Executive Directors of Lloyds Banking Group, Lloyds Bank plc, Bank of Scotland plc and their biographical profiles.

Charlie Nunn
Charlie Nunn Executive Director and Group Chief Executive

Appointed: August 2021

Skills, experience and contribution

  • Extensive financial services experience including in Chief Executive and other leadership roles
  • Strategic planning and implementation
  • Extensive experience of digital transformation

Charlie has over 25 years’ experience in the financial services sector. Prior to joining the Group, Charlie held a range of leadership positions at HSBC, including Global Chief Executive, Wealth and Personal Banking, and Group Head of Wealth Management and Digital, as well as Global Chief Operating Officer of Retail Banking and Wealth Management. Charlie began his career at Accenture, where he worked for 13 years in the US, France, Switzerland and the UK before being made a Partner. He then moved to McKinsey & Co. as a Senior Partner, leading on projects for five years.

External appointments

None.
 

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William Chalmers
William Chalmers Executive Director and Chief Financial Officer

Appointed: August 2019 (Chief Financial Officer)

Skills, experience and contribution

  • Significant board level strategic and financial leadership experience
  • Strategic planning and development, mergers and acquisitions, equity and debt capital structuring and risk management

William joined the Board in August 2019, when he was appointed Chief Financial Officer and was Interim Group Chief Executive from May 2021 to August 2021. William has worked in financial services for over 25 years and previously held a number of senior roles at Morgan Stanley, including Co-Head of the Global Financial Institutions Group and Head of EMEA Financial Institutions Group. Before joining Morgan Stanley, William worked for J P Morgan, again in the Financial Institutions Group.

External appointments

None.
 

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Non-Executive Directors


The Non-Executive Directors of Lloyds Banking Group, Lloyds Bank plc, Bank of Scotland plc and their biographical profiles.

Sir Robin Budenberg CBE
Sir Robin Budenberg CBE Chair

Appointed: October 2020 (Board), January 2021 (Chair)

Skills, experience and contribution

  • Extensive financial services and investment banking experience
  • Strong governance and strategic advisory skills in relation to companies and government
  • Regulatory, public policy and stakeholder management experience

Robin spent 25 years advising UK companies and the UK Government while working for S.G. Warburg/UBS Investment Bank and was formerly Chief Executive and Chairman of UK Financial Investments (UKFI), managing the Government’s investments in UK banks following the 2008 financial crisis. He is a qualified Chartered Accountant.

External appointments

Chair of The Crown Estate.

Board committees

  • Chair of the Nomination and Governance Committee
  • Member of the Remuneration Committee
  • Member of the Responsible Business Committee
     
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Sarah Legg
Sarah Legg Independent Director

Appointed: December 2019

Skills, experience and contribution

  • Strong financial leadership and regulatory reporting skills
  • Significant audit and risk experience in financial leadership
  • Strong transformation programme experience

Sarah has spent her entire executive career in financial services with almost 30 years at HSBC. She was the Group Financial Controller, a Group General Manager and CFO for HSBC’s Asia Pacific region. She also spent eight years as a Non-Executive Director of Hang Seng Bank Limited.

External appointments

Non-Executive Director and Chair of the Audit and Risk Committee of Severn Trent plc, Non-Executive Director and member of the Audit and Risk Committee and the Nomination and Governance Committee of Man Group plc, a Trustee of the Lloyds Bank Foundation for England and Wales, Board Member of the Audit Committee Chair’s Independent Forum and Chair of the Campaign Advisory Board, King’s College, Cambridge University.

Board committees

  • Chair of the Audit Committee
  • Member of the Board Risk Committee
  • Member of the Responsible Business Committee
     
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Amanda Mackenzie LVO OBE
Amanda Mackenzie LVO OBE Independent Director

Appointed: October 2018

Skills, experience and contribution

  • Extensive experience in ESG matters including responsible business and sustainability
  • Strong customer engagement and digital technology experience
  • Significant marketing and brand background

Amanda was Chief Executive of Business in the Community, of which King Charles III is the Royal Founding Patron and which promotes responsible business and corporate responsibility. Prior to that role, she was a member of Aviva’s Group Executive for seven years as Chief Marketing and Communications Officer and was seconded to help launch the United Nation’s Sustainable Development Goals. She is also a former Director of British Airways AirMiles, BT, Hewlett Packard Inc and British Gas.

External appointments

Non-Executive Director, Chair of the Remuneration Committee and member of the ESG Committee of The British Land Company plc, and Chair of The Queen’s Reading Room.

Board committees

  • Chair of the Responsible Business Committee
  • Member of the Remuneration Committee
  • Member of the Nomination and Governance Committee
  • Member of the Audit Committee
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Harmeen Mehta
Harmeen Mehta Independent Director

Appointed: November 2021

Skills, experience and contribution 

  • Over 25 years’ experience leading digital and complex transformation
  • Experience of building and running technology-led businesses and creating new ventures
  • A wealth of international and financial services knowledge having lived in 11 countries and worked across 30 countries on six continents

Harmeen was appointed Chief Digital and Innovation Officer at BT in April 2021. Prior to that role, she spent seven years as Global Chief Information Officer and Head of Cyber Security and Cloud Business at Bharti Airtel, leading its cloud and security businesses. Earlier in her career, Harmeen held CIO positions at BBVA, HSBC and Bank of America Merrill Lynch.

External appointments 

Chief Digital and Innovation Officer at BT.

Board committees

None
 

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Cathy Turner
Cathy Turner Senior Independent Director

Appointed: November 2022 (Board), September 2023 (Senior Independent Director)

Skills, experience and contribution

  • Significant executive and non-executive financial services experience
  • Knowledge of complex remuneration matters
  • Communications expertise with a broad range of stakeholders including investors, regulators government, media and unions

Cathy has significant financial services experience, having worked in senior executive positions at Barclays plc and at the Group. Cathy has previously been a Non-Executive Director and Chair of the Remuneration Committee of Aldermore Group plc, Quilter plc and Countrywide plc.

External appointments

Non-Executive Director and Chair of the Remuneration Committee of Rentokil Initial plc and Non-Executive Director, Senior Independent Director and Chair of the Remuneration Committee of Spectris plc. Partner on a part-time basis at Manchester Square Partners LLP.

Board committees

  • Chair of the Remuneration Committee
  • Member of the Nomination and Governance Committee
  • Member of the Board Risk Committee
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Scott Wheway
Scott Wheway Independent Director and Chair of Scottish Widows Group

Appointed: August 2022 (Board), September 2022 (Chair of Scottish Widows Group)

Skills, experience and contribution

  • Significant financial services board and chair experience
  • Extensive knowledge and experience of large-scale banking and insurance businesses
  • Track record as a non-executive and executive in customer-centric companies

Scott was appointed Chair of Centrica plc in 2020 where he has served on the board since 2016. Scott was formerly Chair of AXA UK plc, Chair of Aviva Insurance Limited, a Non-Executive Director of Aviva plc and Senior Independent Director of Santander UK plc. He worked as an executive in the retail sector for over 25 years where he held positions including chief executive officer of Best Buy Europe, managing director of Boots the Chemist plc and a number of senior executive positions at Tesco plc. 

External appointments

Chair of Centrica plc.

Board committees

  • Member of the Nomination and Governance Committee
  • Member of the Board Risk Committee
     
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Catherine Woods
Catherine Woods Independent Director

Appointed: March 2020

Skills, experience and contribution

  • Extensive executive experience of international financial institutions
  • Deep experience of risk and transformation oversight
  • Strong focus on culture and corporate governance

Catherine is a former Deputy Chair and Senior Independent Director of AIB Group plc where she also chaired the Board Audit Committee. In her executive career with J P Morgan Securities, she was Vice President, European Financial Institutions, Mergers and Acquisitions, and Vice President Equity Research Department, forming the European Banks Team. 

External appointments

Non-Executive Director and Deputy Chair of BlackRock Asset Management Ireland Limited.

Board committees

  • Chair of the Board Risk Committee
  • Member of the Audit Committee
  • Member of the Remuneration Committee
     
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Additional Non-Executive Directors of Lloyds Bank plc and Bank of Scotland plc and their biographical profiles.

The following are directors only of Lloyds Bank plc and Bank of Scotland plc which together form the Ring Fenced Banks of the Lloyds Banking Group in the context of U.K. financial regulations. The concept of the Ring Fenced Banks was created in order to protect consumer banking services from shocks to the wider financial system. As the Group is focussed on the U.K. and on retail and commercial banking customers, the majority of our banking business is undertaken within the Ring Fenced Banks.

There are therefore separate Boards for the Group and the Ring Fenced Banks. Most Board meetings are “aligned” meetings where the boards of the Group and the Ring Fenced Banks come together to consider matters from the perspective of the Ring Fenced Banks and the wider Group. Separate Board meetings of the Ring Fenced Banks and the Group are convened bi-annually to ensure the separate interests of the respective Boards are considered independently.

The Boards of the Ring Fenced Banks comprise all of the Group Directors and the Ring Fenced Bank-only Directors. The role of the Ring Fenced Bank-only Directors is to act independently and exclusively in the best interests of the Ring Fenced Banks, with an enhanced role in managing any potential conflicts between the Ring Fenced Banks and the Group. In order to ensure that they are able to do this, the Ring Fenced Bank-only Directors also attend the Group-only Board meetings as observers.

Nigel Hinshelwood
Nigel Hinshelwood Ring Fenced Bank Senior Independent Director

Appointed: January 2019

Skills, experience and contribution

  • Extensive experience in the financial services sector in the UK and worldwide
  • Significant experience of large-scale transformation, operations and technology

Nigel was a partner at Ernst & Young (subsequently Cap Gemini Ernst & Young) for many years where his positions included Head of Financial Services and Chief Executive Officer of Southeast Asia. Before becoming a non executive, he was the Head of HSBC UK and Deputy CEO of HSBC Bank plc. Within the HSBC Group he held several executive appointments including Head of HSBC Insurance Holdings, Chief Operating Officer for Europe, Middle East and Africa and Global Head of Operations. Nigel was formerly a Non-Executive Director of Lloyd’s of London Franchise Board.

External appointments

Deputy Chair and Chair designate of Ikano Bank AB, Chair of AXA XL Underwriting Agencies Limited and AXA XL Insurance Company UK Limited, International Advisory Council Member of Adobe Systems Software Ireland Limited, Advisory Council Member of International Association of Credit Portfolio Managers and Member of the Finance and Risk Committee of Business in the Community.

Board committees

  • Member of the Audit Committee
  • Member of the Board Risk Committee
  • Member of the Remuneration Committee
  • Member of the Nomination and Governance Committee
     
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Sarah Bentley
Sarah Bentley Ring Fenced Bank Independent Director

Appointed: January 2019

Skills, experience and contribution

  • Extensive digital and digital transformation experience
  • Strong customer and marketing skills

Sarah is Chair of the Gender Equality Leadership Team at Business in the Community. She was formerly Chief Executive Officer and Executive Director of Thames Water Utilities Limited and Director of Water UK, the trade association of the water and wastewater industry. Prior to those roles, Sarah was Chief Customer Officer at Severn Trent plc and a member of its Executive Committee and the Managing Partner for Accenture’s Digital business unit in the UK & Ireland. She has worked internationally in a number of roles including Strategy, Marketing & Propositions for BT’s Global Services division, CEO of Datapoint and Senior Vice President of eLoyalty.

External appointments

Chair of the Gender Equality Leadership Team at Business in the Community – His Majesty King Charles III’s Responsible Business Network.

Board committees

  • Member of the Remuneration Committee
  • Member of the Responsible Business Committee
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Brendan Gilligan
Brendan Gilligan Ring Fenced Bank Independent Director

Appointed: January 2019

Skills, experience and contribution

  • Extensive experience in core strategic finance and controllership roles in the financial services industry
  • Significant experience of serving on the boards of regulated financial services businesses in the UK, France, Switzerland and Poland

Brendan’s career began in the Public Audit division of KPMG in Ireland and Canada. He subsequently worked in commercial and consumer banking services and financing with Woodchester Investments plc and, after its acquisition by General Electric Company, with GE Capital until his retirement in April 2018.

External appointments

Non-Executive Director of Cabot Credit Management Group Limited and Chairman of its Audit and Risk Committees.

Board committees

  • Member of the Audit Committee
  • Member of the Board Risk Committee
     
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Voluntary Disclosure

  • 05 May 2021

    As previously announced, William Chalmers will assume the additional responsibilities from 1 May 2021 of Acting Group Chief Executive in the interim period between António Horta-Osório leaving and Charlie Nunn joining as the new Group Chief Executive on 16 August 2021. During this period, William will also retain his ongoing responsibilities as Group Chief Financial Officer.

    For the period William assumes the additional responsibilities, he will be paid a deputisation allowance and receive an increase to his Fixed Share Award. The deputisation allowance will be £314,163 on a full-year equivalent basis and will be time pro-rated on a daily basis and paid monthly as an allowance. The Fixed Share Award will be increased by £219,750 on a full-year equivalent basis and will be time pro-rated on a daily basis. It will be payable on a quarterly basis in shares and restricted over three years as normal.

Section 430(2B) Companies Act 2006 statements

  • Further to the announcement by Lloyds Banking Group plc (the “Company”) on 22 February 2024, Alan Dickinson retired as a Non-Executive Director of the Company on 16 May 2024.

    In accordance with section 430 (2B) of the Companies Act 2006, the Company confirms that Alan will receive pro-rated Board, Deputy Chair, Audit Committee, Board Risk Committee, Nomination & Governance Committee and Responsible Business Committee fees up to and including 16 May 2024 at the rates set out in the Company’s Annual Report & Accounts 2023. No other remuneration payment will be made by the Company to Alan after he ceased to be a Non-Executive Director of the Company, nor will any payment for loss of office be made.

  • Further to the announcement by Lloyds Banking Group plc (the “Company”) on 15 February 2024, Lord Lupton retired as a Non-Executive Director of the Company on 16 May 2024.

    In accordance with section 430 (2B) of the Companies Act 2006, the Company confirms that Lord Lupton will receive pro-rated Board and Responsible Business Committee fees up to and including 16 May 2024 at the rates set out in the Company’s Annual Report & Accounts 2023. No other remuneration payment will be made by the Company to Lord Lupton after he ceased to be a Non-Executive Director of the Company, nor will any payment for loss of office be made.