By Sabela Ojea

 

Lloyds Banking Group PLC said Monday it will appoint HSBC Holdings PLC's Charlie Nunn to be its next chief executive and executive director, succeeding Antonio Horta-Osorio.

The FTSE 100-listed bank said Mr. Nunn is currently serving as HSBC's global CEO of its wealth and personal-banking division.

In July, Mr. Horta-Osorio said he planned to retire next year. The bank then said it had a target date of June 2021 for a transition in the role.

The U.K. lender said Monday if Mr. Horta-Osorio steps down ahead of Mr. Nunn's appointment, Chief Financial Officer William Chalmers would serve as acting CEO for the interim period.

"The date at which Mr. Nunn takes up his role will be subject to agreement with his current employer where his contract of employment contains a six month notice period and up to six months' post termination restrictions," Lloyds said.

 

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

 

(END) Dow Jones Newswires

November 30, 2020 02:38 ET (07:38 GMT)

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