Former Schroders director Will Samuel has been appointed chairman of TSB Bank.
Samuel is currently chairman at Ecclesiastical Insurance and Howden Joinery. He will take up the role at TSB immediately.
TSB was launched on 9 September 2013. Under EU rules Lloyds Banking Group had to divest around 600 branches in return for receiving state aid during the financial crisis.
These branches have been branded TSB and are set to be listed later this year.
Winfried Bischoff, Lloyds chairman, said: ‘This is a great appointment for Lloyds and for TSB. Will brings a wealth of experience to the role and is well-regarded by the market and across the financial services industry. He is a key hire and will be instrumental in building TSB’s independent future as a challenger to the other high street banks.’