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Lloyds’ head of wholesale quits

Lloyds Banking Group has announced changes in its senior management structure as follows:

Truett Tate, group executive director for wholesale, will retire this month.

The sixty-one-year-old joined the group in 2003 as managing director, corporate banking, before being appointed to the Board in 2004.

Andrew Gézcy, managing director of wholesale banking and markets, will report directly on an interim basis to group chief executive, António Horta-Osório.

Antonio Lorenzo, group executive committee member for group strategy and the wealth & international division, will take on responsibility for asset finance, which has previously been part of the wholesale business.

Lloyds says has begun a search, internally and externally, for a permanent head of its wholesale division.

The LloydsTSB and Bank of Scotland Community Banks will continue to be led by Alison Brittain who also will also take on responsibility for the Halifax Community Bank and retail products and marketing, including telephony and digital banking.

Miguel-Ángel Rodriguez-Sola, director of special projects, will take on the new position of retail and commercial strategy director, reporting to Ms Brittain.

Lloyds has also confirmed that it is continuing to discuss with RSA the timing of George Culmer’s start date as group finance director.

Mr Culmer is due to replace Tim Tookey, who is leaving at the end of February, having served as interim group chief executive in addition to group finance director during Mr Horta-Osório’s leave of absence on medical grounds, at the end of last year.

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