Lloyds Banking Appoints James Lupton Chairman Designate of Non Ring Fenced Bank
May 02 2017 - 3:51AM
Dow Jones News
By Ian Walker
LONDON--Lloyds Banking Group PLC (LLOY.LN) said Tuesday it has
appointed James Lupton as an independent non-executive director and
chairman designate of its non ring-fenced bank which is in the
process of being established, subject to regulatory approval.
Lloyds, which is now less than 1% owned by the U.K. Government,
said Mr. Lupton will become a non-executive director from June
1.
Mr. Lupton has experience in advising financial institutions and
international businesses on major strategic issues and financial
market transactions. He co-founded the London office of Greenhill
& Co, an international corporate advisory firm, in 1998 and
most recently was chairman of Greenhill Europe.
Mr. Lupton will be stepping down as chairman of Greenhill Europe
prior to taking up his role with Lloyds, and is moving to a part
time role as a senior adviser with Greenhill.
Following the global economic crisis, the U.K. government put
new rules in place to protect the economy and taxpayers against
similar future occurrences. The rules say banks will have to keep
their high street branches separate from their wholesale and
investment banking divisions, which needs to be completed before
Jan. 1, 2019.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
May 02, 2017 03:36 ET (07:36 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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