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Tookey quits Lloyds to be CFO at Friends

Lloyds Banking Group finance director Tim Tookey is leaving to join Friends Life as chief financial officer.

Tookey became group fin-ance director and a board director in 2008 and will leave Lloyds in February 2012. The bank says it has started looking for a replacement.

Tookey says: “This has been an important period for the group and I am pleased to have played a part in defining the next stage of the strategy which I fully endorse as the right one to realise the group’s potential.

“With its implementation now under way, this felt like the right time to consider a different challenge.”

Scottish Widows chairman Lord Leitch announced this week he is retiring at the end of the year.

Lord Leitch, who is also chairman of Bupa and Intrinsic Financial Services, says he made the decision to retire in light of other business commitments.

The former Zurich Financial Services chief executive will continue as an adviser to the board for its insurance and Scottish activities.

Lloyds chairman Win Bisch-off says: “The board and I have accepted with reluctance Sandy Leitch’s wish to retire from the board after more than six years but respect his commitment to his other roles and the consequent demands on his time.

“He has been an outstanding colleague with a well developed commercial sense and a deep interest in our people.”

By Rob Langston

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