Lloyds announces board and management changes ; Following the arrival of António Horta-Osório as group chief executive earlier this month, Lloyds Banking Group has announced changes to its board and management team, as follows:
Archie Kane, group executive director for insurance and Scotland is retiring, having joined the bank in 1986.
Lloyds’ insurance division will in future be managed in two separate divisions: Life, Pensions and Investments and General Insurance, both of which will report directly to Mr Horta-Osório.
Group executive director for retail, Helen Weir, is leaving the bank, as a result of which the group’s retail products and marketing operations will be led by Antonio Lorenzo, who moved from Santander with Mr Horta-Osório to become director of Lloyd’s wealth and international division.
Meanwhile, Lloyds TSB and Bank of Scotland Community Banks will continue to be led by Joy Griffiths and Halifax Community Bank will continue to be headed by David Nicholson.
All three of the aforementioned positions will report directly to Mr Horta-Osório, who comments: “These changes … will enable us to focus on meeting our 2011 targets, whilst putting in place some of the foundations which will enable us to deliver on our longer-term plans following the conclusion of the Strategic Review which is currently underway.”
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