Lloyds loses top director to rival RBS

ON THE HEELS of António Horta-Osório’s sudden hiatus from Lloyds, another top executive has announced her departure from the company.

After 16 years at the bank, Jennifer Mathias, finance director and head of risk and compliance at Lloyds corporate bank, has announced a switch to Coutts, an arm of RBS.

Mathias, who started with Lloyds following her graduation from Kingston University in 1995, is expected to start in her new position as chief financial officer at Coutts in the first quarter of 2012. She will also be a member of the Coutts Executive Committee.

The Financial Services Authority fined Coutts £6.3m on Tuesday for failings related to the sale of a fund product during the run-up to the financial crisis. Rory Tapner, chief executive of Coutts said he believes Mathias will work closely with “RBS Group Finance to ensure consistency and alignment within the function.”