Benny Higgins, chief executive of retail at HBOS, will step down at the end of the year as the company restructures its retail and investment divisions.
The move comes as HBOS moves from an integrated retail and investment structure to separate divisions. Jo Dawson, chief executive of insurance and investment, will take responsibility for retail distribution while Dan Watkins, group risk director and a member of the executive committee, joins the board as chief executive of retail products. A spokesman for HBOS says: “Benny understandably took the decision he wanted to manage an integrated division and we don’t have that integrated division going forward.” Higgins joined HBOS in May 2006 from Royal Bank of Scotland where he worked as hea...
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