Santander’s UK CEO appointed as new Lloyd’s chief

4 November 2010

Antonio Horta-Osorio, current head of Santander’s UK operations, will be appointed as the new chief executive officer (CEO) at Lloyds Banking Group next year.

The appointment of Mr Horta-Osorio as the replacement for current CEO Eric Daniels was confirmed by the group.

He joined the Spanish bank’s UK division in 2006 and led its integration with operations run by Bradford&Bingley, Abbey and Alliance&Leicester.

The incoming banking chief will join Lloyds during the early months of 2011 before taking on the role of CEO from March 1st.

Sir Win Bischoff, chairman of Lloyds Banking Group, said: “We are delighted to have attracted someone with his experience in, and understanding of, the UK retail and commercial banking industry, as well as his track record in integrating three well respected UK retail banking franchises.

“António’s drive, enthusiasm and commitment to customers along with his proven ability to build and lead strong management teams will be of significant value to all stakeholders of the group.”

Mr Horta-Osorio said he was “honoured” to have been asked to take on the role and emphasised how he was aware of the importance of the firm to the future prosperity of the UK’s financial markets.

In an interim management statement released earlier in the week, Lloyd’s announced it had made “good progress” against its objectives for 2010.

By Jim Ottewill

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