LLOYDS is having trouble finding a non-executive director who can understand its ageing IT systems and bring the bank into the modern world, its former chairman Sir Win Bischoff said yesterday.
Currently Lloyds’ computer setup is made of decades-old systems from several banks, forced together over years of mergers.
“We as a bank are looking for people among the non-executive directors who have that experience,” Bischoff told a conference at the Cass Business School. “It isn’t all that easy to find, because ideally you’d like to find some nexus between information technology and operations, as well as banking.”
Regulators are concerned the big banks’ IT cannot cope – a hardware failure brought down Lloyds’ systems in January, while RBS’s have ground to a halt three times in the last two years.