The Group is led by the Group Board comprising a Chair, independent Non-Executive Directors and Executive Directors.

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 Chief Executive Officer

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 5 years.

External appointments

None.
 

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William Chalmers
William Chalmers Executive Director and Chief Financial Officer

Appointed: August 2019 (Chief Financial Officer), May-August 2021 (Interim Group Chief Executive)

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 appointed Interim Group Chief Executive in May 2021. He 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 JP 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.

Robin Budenberg
Robin Budenberg 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 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 was awarded a CBE in 2015 for services to the taxpayer and the economy, and is a qualified Chartered Accountant.

External appointments

Chairman 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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Alan Dickinson
Alan Dickinson Deputy Chair and Senior Independent Director

Appointed: September 2014 (Board), December 2019 (Senior Independent Director), May 2020 (Deputy Chair)

Skills, experience and contribution

  • Highly regarded retail and commercial banker
  • Strong strategic, risk management and core banking experience
  • Regulatory and public policy experience

Alan has 37 years’ experience with the Royal Bank of Scotland, most notably as Chief Executive of RBS UK. Alan was formerly Chairman of Urban&Civic plc and of Brown, Shipley & Co. Limited, a Non-Executive Director and Chairman of the Risk Committee of the Nationwide Building Society and of Willis Limited, and a Governor of Motability. Alan is a Fellow of the Chartered Institute of Bankers and the Royal Statistical Society.

External appointments

Non-Executive Director of the England and Wales Cricket Board.

Board committees

  • Chair of the Remuneration Committee
  • Member of the Audit Committee
  • Member of the Board Risk Committee
  • Member of the Nomination and Governance 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 career in financial services with HSBC in finance leadership roles. She was the Group Financial Controller, a Group General Manager, and also Chief Financial Officer for HSBC’s Asia Pacific region. She also spent 8 years as a Non-Executive Director on the board of Hang Seng Bank Limited, a Hong Kong listed bank.

External appointments

Non-Executive Director of Severn Trent Plc, Chair of the Campaign Advisory Board, Member of the Development Committee, King’s College, Cambridge University, Member of the Audit Committee Chairs' Independent Forum and Trustee of the Lloyds Bank Foundation for England and Wales.

Board committees

  • Chair of the Audit Committee
  • Member of the Board Risk Committee
  • Member of the Responsible Business Committee
     
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Lord Lupton CBE
Lord Lupton CBE Independent Director and Chair of Lloyds Bank Corporate Markets plc

Appointed: June 2017

Skills, experience and contribution

  • Extensive international corporate experience, especially in financial markets
  • Strong board governance experience, including investor relations and remuneration
  • Regulatory and public policy experience
  • Significant experience in strategic planning and implementation

Lord Lupton was Deputy Chairman of Baring Brothers, co-founded the London office of Greenhill & Co., and was Chairman of Greenhill Europe. He is a former Treasurer of the Conservative Party and became a Life Peer in October 2015, serving on the House of Lords Select Committee on Charities.

External appointments

Senior Advisor to Greenhill Europe, a Trustee of The Lovington Foundation and Chairman of the Board of Visitors of the Ashmolean Museum.

Board committees

  • Member of the Responsible Business Committee
     
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Amanda Mackenzie OBE
Amanda Mackenzie OBE Independent Director

Appointed: October 2018

Skills, experience and contribution

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

Amanda was a member of Aviva's Group Executive for 7 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

Chief Executive of Business in the Community, The Prince's Responsible Business Network and a trustee of the charity Cumberland Lodge.

Board committees

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

Appointed: November 2021

Skills, experience and contribution 

  • Extensive experience leading digital, engineering, IT and innovation transformation
  • A wealth of international and financial services knowledge having lived in 11 countries and worked across over 30 countries in her career
  • Experience of incubating new businesses and creating new revenue streams in businesses

Harmeen has over 25 years’ experience leading digital, and technology transformation and running technology-led businesses. In April 2021, Harmeen was appointed Chief Digital and Innovation Officer at BT. Prior to BT, 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; Non-Executive Director at Max Healthcare Institute Ltd. 

Board committees

None
 

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Cathy Turner
Cathy Turner Independent Director

Appointed: November 2022 

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 where her responsibilities, over time, included human resources, executive compensation, investor relations, strategy and brand marketing, and at the Group, where she was responsible for the human resources, legal, audit, corporate brand and secretariat functions. 

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 each of Rentokil Initial plc and Spectris plc. Partner at Manchester Square Partners LLP.

Board committees

Member of the Remuneration 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 having worked across the UK and Europe, North and South America, the Middle East and Asia Pacific.

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 he held numerous positions including 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 a number of 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, International Advisory Council Member of Adobe Systems Software Ireland Limited, Advisory Council Member of International Association of Credit Portfolio Managers, Member of the Finance and Risk Committee of Business in the Community, and a director and Chair of AXA XL Underwriting Agencies Limited and AXA XL Insurance Company UK Limited.

Board committees

  • Member of the Audit Committee
  • Member of the Board Risk Committee
  • Member of the Remuneration Committee
  • Member of the Nomination 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 Chief Executive Officer and Executive Director of Thames Water Utilities Limited and a Director of Water UK, the trade association of the water and wastewater industry. Prior to joining Thames Water in autumn 2020, Sarah was Chief Customer Officer at Severn Trent plc and a member of its Executive Committee. Before joining Severn Trent, Sarah was the Managing Partner for Accenture’s Digital business unit in the UK & Ireland. Sarah previously 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

Thames Water, Chief Executive Officer and Director of Water UK.

Board committees

  • Member of the Remuneration 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 UK Holdco Limited and 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 23 September 2021, Stuart Sinclair retired as a Non-Executive Director of the Company on 12 May 2022.

    In accordance with section 430 (2B) of the Companies Act 2006, the Company confirms that Stuart will receive pro-rated Board, Nomination and Governance Committee, Remuneration Committee and Responsible Business Committee fees up to and including 12 May 2022 at the rates set out in the Company’s Annual Report & Accounts 2021. No other remuneration payment will be made by the Company to Stuart 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 23 September 2021, Nick Prettejohn retired as a Non-Executive Director of the Company on 30 September 2021.

    In accordance with section 430 (2B) of the Companies Act 2006, the Company confirms that no remuneration payment will be made by the Company to Nick 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 29 January 2021, Sara Weller retired as a Non-Executive Director of the Company on 20 May 2021.

    In accordance with section 430 (2B) of the Companies Act 2006, the Company confirms that no remuneration payment will be made by the Company to Sara after she ceased to be a Non-Executive Director of the Company, nor will any payment for loss of office be made.

  • António Horta-Osório retired as Group Chief Executive Officer and an Executive Director of Lloyds Banking Group plc (the “Company”) with effect from 30 April 2021 (“Retirement Date”). The following information is provided in accordance with section 430(2B) of the Companies Act 2006:

    António has not received and will not receive any payment for loss of office.

    On 20 May 2021, António will receive a payment of £200,809.49 in lieu of unused annual leave entitlement up to the Retirement Date.

    Employees taking retirement are treated as ‘good leavers’ under the Company’s Group Performance Share Plan (GPS Plan) Rules. António declined a GPS award in 2019 and 2020 and has no outstanding deferred GPS awards. He is eligible to be considered for a GPS award for the 2021 performance period up until his retirement date.

    António will remain entitled to his Fixed Share Award, time pro-rated to his retirement date. The award is paid in shares in quarterly instalments and the final award of £88,846 will be made in shares in June 2021 and restricted over three years.

    António did not receive a Long Term Share Plan award for the 2020 performance year.

    As a ‘good leaver’ under the Executive Group Ownership Plan Rules (Executive GOS), António’s outstanding 2019 and 2020 Executive GOS awards will be time pro-rated to his retirement date (2019 becomes 5,977,436 shares and 2020 becomes 3,680,612 shares). The awards remain subject to the performance measures which apply to the relevant awards and will continue to vest at the normal vesting dates and be released on their scheduled release dates, subject to the relevant terms (including post-vesting retention periods, malus and, where applicable, clawback and to deductions for national insurance and income tax).

    As the 2017 and 2018 Executive Group Ownership Share awards have achieved their three-year performance period with performance outcomes of 49.7% and 33.75% respectively, any unvested awards will not be time pro-rated and will continue to vest at the normal vesting times and be released on their scheduled release dates, subject to the relevant terms (as outlined above).

    Employees taking retirement are treated as ‘good leavers’ under the Group Share Incentive Plan rules (SIP). Accordingly, António can no longer participate in the SIP plan and shares held in the SIP Trust on his behalf need to be removed from the Trust within 30 days from the date of his retirement. António will be entitled to sell or transfer his shares. There is no income tax or National Insurance contributions payable on the value of the SIP shares. However, dividend tax is payable on the sale of any dividend shares held for less than three years at the point of sale.

    Balance in the Share Incentive Plan as at the Retirement Date

    Partnership Shares  Matching Shares  Free Shares  Dividend Shares  Total 
    25,384 7.174 912 56 33,526


    As António’s retirement date is before the maturity date of the 2019 and 2020 Sharesave plans, under the rules of the Sharesave Schemes, he can choose to continue to make contributions for six months post his retirement date, use his savings to purchase the shares at the option price or withdraw his savings.

    António will be entitled to a capped contribution of up to £25,000 (excluding VAT) towards legal fees incurred in connection with his retirement from the Company.

    António will be provided with Tax Assistance from the Group’s preferred supplier for the tax years 2021/2022 and 2022/23. Private medical cover will also be provided until the end of 2021.

    As part of António’s buyout of retirement benefits from his employment with Santander, the Group agreed to an unfunded pension buy-out arrangement which was determined based on the achievement of share price conditions over a six-year period. The arrangement provides benefits that are normally payable at retirement at age 65, in which case, the amount would be an annual pension equal to 6% of £1,220,000.

  • Further to the announcement by Lloyds Banking Group plc (the “Company”) on 29 October 2020, Lord Blackwell retired as Chairman and a Non-Executive Director of the Company on 1 January 2021.

    In accordance with section 430 (2B) of the Companies Act 2006, the Company confirms that no remuneration payment will be made by the Company to Lord Blackwell after he ceased to be Chairman and 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 10 September 2020, Simon Henry retired as a Non-Executive Director of the Company on 30 September 2020.

    In accordance with section 430 (2B) of the Companies Act 2006, the Company confirms that no remuneration payment will be made by the Company to Simon after he ceased to be a Non-Executive Director of the Company, nor will any payment for loss of office be made.

  • As announced on 1 May 2020, Juan Colombás retired as Chief Operating Officer and an Executive Director of Lloyds Banking Group plc (the “Company”) with effect from 18 September 2020 (“Retirement Date”). The following information is provided in accordance with section 430(2B) of the Companies Act 2006:

    Juan Colombás has not received and will not receive any payment for loss of office.

    On 20 September, Juan Colombás will receive a payment of £45,188 in lieu of unused annual leave entitlement up to the Retirement Date.

    Employees taking retirement are treated as ‘good leavers’ under the Company’s Group Performance Share Plan (GPS Plan) Rules. Juan Colombás declined a Group Performance Share award for 2019 and requested, along with the other GEC members and attendees, not to be considered for a Group Performance Share award for 2020.

    As a ‘good leaver’ under the GPS Plan Rules, Juan Colombás’ outstanding deferred GPS awards over ordinary shares of 10p each in the capital of the Company (“Shares”) under the 2017 GPS Plan (124,370 Shares) and under the 2018 GPS Plan (501,341 Shares) will continue to be released on their scheduled release dates, subject to the relevant terms (including post-vesting retention periods, malus and, where applicable, clawback and to deductions for national insurance and income tax).

    Juan Colombás will remain entitled to his Fixed Share Award, time pro-rated to his retirement date. The award is paid in Shares in quarterly instalments and the final award of £108,125 will be made in Shares in September 2020 and restricted over three years.

    Juan Colombás did not receive an Executive Group Ownership Share for 2020.

    As a ‘good leaver’ under the Executive Group Ownership Plan Rules (Executive GOS), Juan Colombás’ outstanding 2018 and 2019 Executive GOS awards will be time pro-rated to his retirement date (2018 becomes 3,490,027 Shares and 2019 becomes 2,573,717 Shares). The awards remain subject to the performance measures which apply to the relevant awards and will continue to vest at the normal vesting dates and be released on their scheduled release dates, subject to the relevant terms (including post-vesting retention periods, malus and, where applicable, clawback and to deductions for national insurance and income tax).

    In relation to the 2017 Executive Group Ownership Share which achieved a performance outcome of 49.7%, Juan Colombás’ received the first 20% of the award in March 2020. The remaining four outstanding tranches will not be time pro-rated as the three year performance period has been achieved and will continue to vest at the normal vesting times and be released on their scheduled release dates, subject to the relevant terms (as outlined above).

    Employees taking retirement are treated as ‘good leavers’ under the Group Share Incentive Plan rules (SIP). Accordingly, Juan Colombás can no longer participate in the SIP plan and Shares held in the SIP Trust on his behalf need to be removed from the Trust within 30 days from the date of his retirement. Juan Colombás will be entitled to sell or transfer his Shares. There is no income tax or National Insurance contributions payable on the value of the SIP Shares. However, dividend tax is payable on the sale of any dividend Shares held for less than three years at the point of sale.

    Balance in the SIP plan as at the Retirement Date:

    Partnership Shares  Matching Shares  Free Shares  Dividend Shares  Total 
    15,162 5,194 912 0 21,268


    Juan Colombás will be entitled to a capped contribution of up to £10,000 (excluding VAT) towards legal fees incurred in connection with his retirement from the Company.

    Juan Colombás will be provided with Tax Assistance from the Group’s preferred supplier for tax years 2020/2021 and 2021/2022 of up to £15,000 each tax year. Private medical cover will also be provided until the end of 2020.

    As part of Juan Colombás’ buyout of retirement benefits from his employment with Santander, the Group agreed to make an unfunded promise of a lump-sum payment of £718,996 at a defined Normal Retirement Age (‘NRA’) of 65. The deed of terms between the Group and Juan Colombás provides that where his service ends before NRA for any reason other than Ill-Health Retirement, Dismissal for Cause or Voluntary Resignation, that the entitlement to the lump-sum payment continues and will be paid at NRA.

  • Further to the announcement by Lloyds Banking Group plc (the “Company”) on 31 October 2019, Anita Frew retired as a Non-Executive Director of the Company on 21 May 2020.

    In accordance with section 430 (2B) of the Companies Act 2006, the Company confirms that Anita will receive pro-rated Board, Nomination and Governance Committee, Audit Committee, Board Risk Committee, Remuneration Committee and Responsible Business Committee fees up to and including 21 May 2020 at the rates set out in the Company’s Annual Report & Accounts 2019. No other remuneration payment will be made by the Company to Anita after she ceased to be a Non-Executive Director of the Company, nor will any payment for loss of office be made.