Lloyds risk chief linked to senior FSA post

Lloyds Banking Group chief risk officer Carol Sergeant is leaving the bank amid reports linking her to a senior role within the new regulatory structure.

The Financial Times says Sergeant is considered a strong candidate to head up either the Consumer Protection and Markets Authority, the Prudential Regulation Authority, or one of the other break-away organisations formed from the break up of the FSA.

Sergeant joined the Bank of England in 1974 and moved to the FSA in 1997.

She was considered for the FSA chief executive role in 2003 after Howard Davies left, but the role was given instead to John Tiner.

Sergeant joined Lloyds TSB in 2004 and was appointed to the group executive committee. She led efforts to review risk and compliance operations in HBOS after it merged with Lloyds to create Lloyds Banking Group in 2008.

On Sergeant’s departure Lloyds group chief executive Eric Daniels says: “I am very grateful to Carol for the contribution she has made to the group as a key member of its executive committee.  

“She has established an outstanding risk leadership team and has implemented industry-leading risk management standards and practices.  We wish her every success for the future.”
Sergeant says: “I am very proud of what we at Lloyds Banking Group have achieved together during a period of enormous change for the financial services industry.

“The group is on a good trajectory, underpinned by a strong risk function and risk management disciplines, and I believe now is the right time for me to seek new challenges.”