Lloyds Banking Group has revealed how it is preparing itself for its new strategic plan: a huge shake-up of its top team, which includes the departures of two of its senior executives.
In a statement today the lender said Andrew Bester, the group director of its commercial banking team, and Simon Davies, its chief people, legal and strategy officer, will depart as it prepares to unveil a three-year plan in February.
The changes will "strengthen the group's organisational structure", it said, as well as creating a clearer succession plan.
Here's the full list of changes:
- Juan Colombás, executive director, is appointed to a new role of chief operating officer, bringing together several critical functions including transformation, IT, people, community banking, and group services.
- George Culmer, chief financial officer and executive director, will take on responsibility for the Legal and Strategy teams, as well as for Lloyds Development Capital (LDC).
- Zaka Mian is appointed as the group director, transformation. This new transformation division will comprise all business and IT change, data and IT architecture, customer insights, innovation and applied sciences, and be responsible for the ongoing development of the digital channel.
- Vim Maru is appointed to the role of group director, retail with responsibility for all retail and consumer finance products and group brands and marketing. Vim will also be responsible for the integration of the MBNA business.
- David Oldfield is appointed to the role of group director, commercial banking including global corporates, financial institutions, mid markets and SME banking.
- Antonio Lorenzo, group director, insurance will expand his role to take on responsibility for the Wealth segment.
- Karin Cook is appointed to the role of group services director with responsibility for global payments, group property, security, sourcing and customer services.
- Stephen Shelley will become the group chief risk officer and a member of the group executive committee.
- Janet Pope is appointed as the chief of staff and group corporate affairs director and also becomes a member of the group executive committee.
- In addition Jen Tippin is appointed as the new group people and productivity director, Jakob Pfaudler is appointed as the new community banking director and together with Kate Cheetham, group general counsel, all three will attend GEC.
Antonio Horta-Osorio, the lender's chief executive, said the changes were "fundamental to prepare the group for the next phase of its transformation".