Scots to step down from Lloyds board

0
Have your say

two key directors are quitting Lloyds Banking Group in a move which could leave no Scottish voice on the board.

Lord Sandy Leitch, group deputy chairman and chairman of Scottish Widows, cited pressure of other business commitments and will step down at the end of the year. Finance director Tim Tookey is moving to Friends Life in February.

High-level representation of Scottish interests was a major part of efforts to calm fears about the importance of Scotland within the group after the takeover of Edinburgh-based HBOS in 2008. But Lloyds was today said to be making no commitment to appointing a replacement director to formally represent its Scottish business, which employs 20,000 people.

Lloyds has seen several high- profile departures, including former Scottish director Archie Kane, since chief executive Antonio Horta-Osorio took over in March.