Lloyds shake-up as Bostock joins

THE Royal Bank of Scotland’s restructuring chief, Nathan Bostock is quitting the firm to join its rival, Lloyds Banking Group, as the new head of wholesale banking.

Bostock, will replace Truett Tate, the current head of wholesale banking, in early 2012.

Truett is set to move to another role as a vice-chairman at Lloyds and will retain a seat the bank’s board.

The appointment comes as part of Lloyds’ chief executive António Horta-Osório’s strategy to reshuffle the board he inherited in February from his predecessor Eric Daniels.