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Lloyds appoints Bischoff as new chairman

Lloyds Banking Group has appointed Sir Win Bischoff as its new chairman.

Bischoff, former Citigroup chairman, will succeed Sir Victor Blank, who announced he was stepping down from the post in May.

Lloyds Banking Group chief executive Eric Daniels says: “Sir Win brings great knowledge and insight to the group as we build the UK’s leading financial services provider and I look forward to working with him.”

Bischoff said: “I am both honoured and pleased to accept the chairmanship of its board. Short-term we face many challenges but, in the longer term, the group is well positioned to deliver significant benefits to its customers, shareholders, employees and the public.”

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