Lloyds Banking Group executive director Archie Kane is to retire as part of a management restructure.
Kane has been part of the Group since he joined TSB in 1986 and has been a member of the group board since 2000.
As part of the restructure, director of retail Helen Weir has also decided to step down from her role having been with the bank since 2004.
The company’s insurance division will now be managed in two separate divisions. Life, pensions and investments and general insurance will both report directly to group chief executive Antonio Horta-Osorio.
The group’s retail banking division will now be made up of three sections. Retail products and marketing will be led by the wealth and international division group director Antonio Lorenzo. The Lloyds TSB and Bank of Scotland Community Banks will continue to be led by Joy Griffiths and the Halifax Community Bank will remain headed by David Nicholson.
All three will report directly to group chief executive Antonio Horta-Osorio. He says: “These changes to the group’s management team will enable us to focus on meeting our 2011 targets, while 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.”
Lloyds banking group chairman Sir Win Bischoff says: “I would like to thank Archie and Helen personally and on behalf of the Board for their contribution to the success of the group.”