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Lloyds Banking Group announces management shake-up

Lloyds Banking Group has announced changes to its board and management team to create five business lines reporting directly to the group chief executive António Horta-Osório.

Horta-Osório returned to work earlier this month after a two month absence due to stress and the group had planned a restructure of the number of people who would be reporting directly to him.

Group director for the Lloyds TSB and Bank of Scotland retail banks Alison Brittain will take up the new role of group director of retail. She will have responsibility for the multi-channel and multi-brand strategy including Lloyds TSB, the Bank of Scotland and Halifax, retail products and marketing, telephony and digital banking.

Group director of strategy and wealth and international Antonio Lorenzo will also undertake responsibility for asset finance, which had formerly been a part of the wholesale business.

Director of Commercial John Maltby remains in place, continuing with his responsibility for our SME businesses while Toby Strauss remains director of the group’s insurance division.

Group executive director for wholesale Truett Tate, who decided to retire in February, will not seek re-election at the group’s AGM in May. Chief executive of wholesale banking and markets Andrew Géczy will report on an interim basis to Horta-Osório. The firm has begun a search internally and externally for a permanent director of the group’s wholesale division. The group is also recruiting a group corporate functions director.

Horta-Osório says: “By bringing together our community banks with product and marketing functions we will deliver better, more targeted customer propositions.  By creating the position of group coporate functions director, we will be able to bring better focus on areas such as human resources, legal and secretariat and group audit which are essential to transforming the group.”

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