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Monday, 30 January 2012

Lloyds CEO Delegates

Lloyds Banking Group is expected to announce a management restructuring that will see Antonio Horta-Osorio, Lloyds’ CEO, delegate his responsibilities to a smaller group of people.

He currently has 14 direct reports. This number is expected to be reduced to about 10.

Key to this restructuring will be the appointment of George Culmer as the bank’s new finance director. The bank is currently negotiating with RSA to secure his release from a 12 month contract.

A new head of the wholesale division will also be appointed.

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