Sir Winfried Bischoff, chairman of Lloyds Banking Group after taking over during the financial crisis, is to retire from the group later this month.
He is expected to step down from the board no later than the shareholders meeting in May 2014, the exact date depending on the appointment of a successor, the group said today. Bischoff has been chairman of the bank since September 2009, when he replaced Sir Victor Blank, who was blamed for the troubled takeover of HBOS during the 2008 crisis. During his tenure he conducted a radical restructure of the bank, including the replacement of chief executive Eric Daniels with former Santander UK boss, António Horta-Osório. Profits at the bank have also seen an improvement since he joined...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
