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Archie Kane retires from Lloyds as part of management shake-up

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.”

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Comments

There are 3 comments at the moment, we would love to hear your opinion too.

  1. Richard Brown, Managing Director, Moneynotion Limi 9th March 2011 at 9:47 am

    “… meeting our targets” – Mmm That says a lot.

    I was in my branch of Lloyds recently and could hear a conversation through the glass panel, in which 2 Lloyds bank staff were double teaming what sounded like a very ordinary man who had an endowment policy close to maturity. They were speaking direct to the insurer at one stage. The gist of the discussion was that they were trying every which way to persuade him to cash in the policy to take something out with the bank.

    I complained to my manager. She smiled, looked embarrassed and shrugged her shoulders.

  2. To the above comment…Having worked for LTSB for 4 years starting as an account manager & now working as a branch manager I can say, hand on heart, that a customer would never get “Double teamed” or further more have their financial affairs discussed in full view of other customers using the branch!!! We can’t make people sign up for our products & services, in fact with all our internal obsevations, audits & that fact that we must give clear rationale on a system that customers can view if they wish as to why we would advise a particular product/service, I find your comments a load of rubbish. As a matter of fact when was the last time anyone made any money on an endowment???? Yes we have targets to meet & yes we need to sell to our clients! I take it you are a qualified financial consultant who knows the difference between every financial product on the market these days!! Don’t think so, so don’t pass judgement on what was a snap shot view of a situation! My branch is full of really nice customers who wouldn’t bank anywhere else even if you paid them, love the staff that serve them & regularly reccomend us to friends and family, FACT!

  3. Peter Davies @ Create Wealth 13th March 2011 at 8:01 am

    Re the above comment. I worked at Lloyds TSB for 18 years and can fully believe the above scenario occurring. When you have been in the bank another 14 years Mr Anonymous please comment again about this as you notes may well be rather different! Secondly, an IFA of course doesnt know the difference between every financial product on the market just like the FSA doesnt. However, the first commentator has reported a situation that he saw – were you there? NO. And for the record Lloyds TSB has been carrying out observations, audits, 121s for the last 15 years and still manages to achieve the highest number of complaints in UK financial services. I remember the days when staff were told to sell Payment Protection to those who were retired as “they’d benefit from the life cover” and tell them they cant have the loan without the insurance. Get into the real world of retail banking, get some experience behind you and then come back on this forum,

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