WHAT DOES HORTA-OSORIO’S MOVE MEAN FOR SANTANDER AND LLOYDS?

JOE DICKERSON | EXECUTION NOBLE
Horta-Osorio has the experience to see Lloyds through its restructuring efforts, but it is interesting, to say the least, that he decides to leave ahead of a flotation.

NIC CLARKE | CHARLES STANLEY
The market didn’t think Horta-Osorio could be prised away from Santander, especially with its UK IPO on the way, but Santander’s loss is certainly Lloyds’ gain.

PAUL MUMFORD | CAVENDISH ASSET MANAGEMENT
The appointment is quite a coup for Lloyds. Buying HBOS was a big mistake and hiring somebody from outside the company with a fresh pair of eyes was imperative.