Lloyds Banking Group has appointed Scottish Widows chairman Lord Blackwell to succeed Sir Winfried Bischoff as chairman of the group from 3 April 2014 when he retires.
According to an announcement published on the London Stock Exchange today (2 December), Lord Blackwell has been a non-executive director of the group since 2012 and is a member of the group’s audit and risk committees and the chairman of the group’s insurance business Scottish Widows plc.
Previously he was group development director at NatWest from 1997 to 2000, and a non-executive director of Standard Life from 2003 to 2012 where he was the senior independent directory from 2008.
Sir Winfried Bischoff said: “Over the past four years, the Group has made significant progress in its goal to become a strong, efficient, UK-focused retail and commercial bank. Whilst clearly some challenges remain, the performance of the Group is well on track.
“This gives me great confidence in its future and I wish Norman every success as he leads the Group at this important time.”
