Lloyds Banking Group has named Scottish Widows chairman and Tory peer Norman Blackwell as chairman.
Blackwell has been a non-executive director of Lloyds since June 2012 as well as a member of the group's audit and risk committees. Blackwell was appointed to chairman of the group's insurance business Scottish Widows in September 2012.
Blackwell said: 'I am honoured to have been asked to become chairman of Lloyds Banking Group. My experience as a non-executive director of the group and as chairman of Scottish Widows has been extremely positive. The group has excellent people who are truly focused on doing their best for customers.
'I would like to thank Win for the outstanding job he has done in steering the bank through a tremendous turnaround. This is a great opportunity to be part of helping the bank go even further in serving customers and supporting the UK economic recovery as it returns to full private ownership.'