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Lloyds mortgage boss and CML chairman Colin Walsh to quit

Lloyds Banking Group managing director of mortgages Colin Walsh is to leave the bank and his position as chairman of the Council of Mortgage Lenders.

On June 1, head of wealth international Antonio Lorenzo announced his leadership teams for the retail and wealth business. A new managing director of products was appointed, Vim Maru, with responsibility for all product areas, including mortgages, meaning Walsh’s position no longer exists within the business.

However, the bank says Walsh, who was appointed CML chairman in November last year, believes it is the right time to leave the group. No departure date has been decided and Walsh has agreed to stay for the next few months to support the transition to the new set up.

The CML would not confirm if it had begun recruiting for Walsh’s successor.

A LBG spokeswoman says: “Intermediary sales are a key distribution channel for the group, and for this reason we need greater focus on this area. The Intermediaries business will span across the retail business – including mortgages and also wealth – and is aimed at deepening the Group’s relationships with intermediaries and ensuring that we interact with them in a consistent way.

“At the same time, Colin Walsh, has decided that it is the right time for him to leave the Group. He has agreed to stay with us for the next few months to support the transition to the new business model and the establishment and strategy development of the Intermediary business.”

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