Lloyds’ deputy chairman Moreno to retire

Glen Moreno, deputy chairman and senior independent director at Lloyds Banking Group, is retiring in May this year.

Moreno, formerly chief executive of Fidelity International , worked on the fall-out from the banking crisis for more than three years.

He said: ‘With a strong board and a talented executive team in place, and the group stabilised following the HBOS acquisition, it is time for me to move on. 

‘Lloyds Banking Group has a robust and realistic long-term strategy to deliver what we all care deeply about: a safe and sound bank that serves its customers well and returns money to the UK taxpayer.’

The board of Lloyds has appointed Anthony Watson, chairman of the Remuneration Committee, as its senior independent director and David Roberts, chairman of the Risk Committee, as deputy chairman, with effect on 17 May.

Sir Winfried Bischoff, chairman of Lloyds Banking Group, said:  ‘Tony comes with the background of former chief executive of one of the most prominent investment institutions in the country and a board member of a number of major UK public companies and David with an extensive history of commercial and retail banking.’