BISCHOFF TO CHAIR LLOYDS
SIR Win Bischoff, the ex-Citigroup chairman and veteran banker, is set to be named the next chairman of Lloyds Banking Group, it emerged last night.
UK Financial Investments has asked the 67-year-old, who stepped down from Citi in February, to take the reins at the bank and lead it through the integration of HBOS, the bank it acquired last year.
Bischoff has a good relationship with Lloyds’ chief executive Eric Daniels, and is thought unlikely to shake up the executive board, as other possible contenders for the job could have done.
The news came as European competition commissioner Neelie Kroes stepped up her threats to split up RBS and Lloyds.
She said Lloyds may be forced to auction off its Halifax or Bank of Scotland branches to adhere to European anti-trust rules.
Kroes also said that Royal Bank of Scotland (RBS) could also be forced to dispose of assets.
Lloyds and RBS have been given over £40bn from the UK government between them.
Meanwhile, Lloyds announced a further 2,100 job cuts yesterday, taking the total at the bank to more than 7,000 since January.