Horta-Osorio makes his mark in Lloyds boardroom reshuffle

LLOYDS Banking Group will this morning announce a boardroom shake up that will see two senior board directors exit.

Amongst the casualties are retail banking chief Helen Weir and insurance boss Archie Kane, sources have told City A.M.

Weir will leave with immediate effect and Kane will stay with the bank until its annual meeting.

The development comes as new chief executive António Horta-Osório looks to make his mark on the bank, after his first two weeks in charge.

One option available to Horta-Osório in the reshuffle could be to promote senior Lloyds executives, including those he has brought in from Santander.

Two senior employees of the Spanish bank’s British operation followed him to Lloyds after it was announced he would replace Eric Daniels as the head of the state-backed lender. Juan Colombás, head of risk at Santander UK and Antonio Lorenzo, the bank’s chief financial officer, joined Lloyds in January.