Lloyds Bank Unveils Leadership Changes
July 05 2017 - 6:24AM
Dow Jones News
By Rory Gallivan
LONDON--Lloyds Banking Group PLC (LLOY.LN) Wednesday announced a
series of senior personnel changes and a revised business structure
in preparation for a new strategic plan that will be unveiled in
February 2018
The restructure includes the departure of Andrew Bester, group
director of commercial banking, who will be replaced by David
Oldfield.
Chief Financial Officer George Culmer takes responsibility for
the legal and strategy teams, as well as for Lloyds Development
Capital, and executive director Juan Colombas was appointed as
chief operating officer.
"The changes...are fundamental to prepare the group for the next
phase of its transformation under our upcoming strategic plan for
the period 2018-2020," said Chief Executive Antonio
Horta-Osorio.
"They are a key step to ensuring the continued alignment of the
bank's capabilities and strategy as a simple, low risk U.K.-focused
bank with our customers' evolving needs," he said.
Shares at 0938 GMT, down a penny, or 0.8%, at 66 pence valuing
the company at GBP47.35 billion.
Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter:
@RoryGallivan
(END) Dow Jones Newswires
July 05, 2017 06:09 ET (10:09 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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