Citigroup's Bischoff to take helm at Lloyds

The appointment follows current chairman Sir Victor Blank's decision to step down, which was announced earlier this year. Sir Win will take up his position in September. Lloyds says it consulted with major shareholders, including the UKFI, which manages the government's 43% stake in the company, before making the decision. It says the appointment has been approved by the FSA. Sir Win says he is "honoured" by the appointment to a firm which has a "proud history and excellent customer franchise". He adds: "Short-term we face many challenges but, in the longer term, the group is we...