Lloyds reshuffles its senior staff

LLOYDS Banking Group has reshuffled its senior management team, it said yesterday, as Britain’s biggest mortgage lender prepares for the next phase of its transformation into a leaner, low-risk bank. The changes include naming Juan Colombas to the new role of chief operating officer, giving chief financial officer George Culmer oversight of the legal and strategy teams, and naming Zaka Mian as group director for transformation. Chief executive Antonio Horta-Osorio said the changes will help the bank pursue a strategy of being a simplified, low-risk lender focused on the UK. “The changes… are fundamental to prepare the group for the next phase of its transformation under our… plan for the period 2018 - 2020,” Horta-Osorio said. – Reuters