The Board of Lloyds Banking Group (LON:LLOY) is extremely grateful to George for the key role he has played in helping Lloyds navigate its way through the aftermath of the financial crisis to return to full private ownership in 2017. George joined in 2012 with a long track record of successful financial leadership. During his time at Lloyds, George has brought his extensive experience and deep understanding to bear in helping restore financial performance, resume dividend payments, develop the Group’s strategy and undertake important M&A activity, including the Group’s successful acquisition of MBNA in 2017.
A search for a suitable successor has commenced. It is envisaged that George will retire after H1 results in 2019.
António Horta-Osório, Group Chief Executive of Lloyds, said:
“George has been a crucial member of the team that has helped turn Lloyds around and position it for future success. He has a great mind and great judgement and, in short, has been an outstanding CFO. We are grateful that he has timed his retirement so that he will be with us until after next year’s Interim Results and we will be sorry to see him go.”
