StockMarketWire.com
Lloyds Banking Group has unveiled changes to its board and the management team. The changes mean that there will be five business lines reporting directly to the group chief executive António Horta-Osório.

Alison Brittain will undertake the newly-created role of group director of retail with responsibility for the multi channel and multi brand strategy including Lloyds TSB, the Bank of Scotland and Halifax, retail products and marketing, as well as telephony and digital banking.

Antonio Lorenzo, group director of strategy and wealth and international, will also undertake responsibility for asset finance which had formerly been a part of the wholesale business.

Truett Tate, group executive director for wholesale has decided to retire and will not seek re-election at the annual general meeting in May.

As a result, Andrew Géczy, CEO of wholesale banking and markets, will report on an interim basis to Horta-Osório. The group has begun a search internally and externally for a permanent director of the group's wholesale division. John Maltby remains as director of commercial continuing with his responsibility for our SME businesses. Toby Strauss's role also remains unchanged as director of the group's insurance division.

Further to the centralisation of all control functions as part of the group strategic review in 2011 there will now be five control and support functions as follows:

* Risk - led by chief risk officer Juan Colombas

* Finance - led by group finance director, Tim Tookey currently and George Culmer when he joins the group

* Operations - led by director of group operations, Mark Fisher

* Corporate Affairs - led by group corporate affairs director, Matt Young

Group corporate functions - human resources, legal and secretariat and group audit - will now report to a newly-created position of group corporate functions director.

Horta-Osório said: "The changes to the group's senior management team ensure we have the right organisational structure to deliver on our strategy and move to the next phase of the Group's transformation.

"By bringing together our community banks with product and marketing functions we will deliver better, more targeted customer propositions."

horta osorio. has now put all yes people around him .
RBS did that . no one will question him even when he
makes big mistakes bad news .

Like him or not, strong management is what's needed. No one with any sense is going to surround himself with people who are going to continually question his judgement. If this is close to 100p by Xmas 2012, you are going to have to eat your words T. I trust, in that case, you will send him another e-mail retracting your earlier doubts?

"Like him or not, strong management is what's needed. No one with any sense is going to surround himself with people who are going to continually question his judgement."

Harry, I would suggest that's "exactly" what people at the "so called" top need.

Get real Stan. Leadership is about leading, not continually being undermined, so it's totally natural to delegate to people who are compliant and not defiant.

If anyone needs to get real H .. it isn't me.

harry when you have a team who will not ask questions then the only thing left is a down hill spiral . no matter how good some one is you need a open book for any one to question . or go to the wall

remember the labour party thought FRED GOODWIN was a great banker .
we now know that the down fall came because no one was allowed to question is power.

Questions are fine, T, but the final strategy decisions are down to AH-O, which is what he gets paid for and once those decisions are made, his delegated management team are expected to carry them out, with a certain amount of autonomy within their own departments. This isn't a workers collective, it's a corporate management team with the CEO at the top!

Sadly your mouth seems bigger then your ears and your brain H.

So you don't agree with my interpretation of management structure or you don't like management? (and I don't type with my mouth!)

The point I'm trying to get across is that not just "one" person in an organisation know's everything.

stan quite correct it leeds to the down fall and always has .
just look at RBS he thought he was god .
has for the ceo at this bank the man as never done anything .
if he as post it because i can not find anything all he is good at is sacking the
bank staff .and giving out money to the directors

and the SP tells you the city boys do not like him and avoiding the stock .why

An article for you boys - UK 2012 -Time To Change The Record :-)

rbs now only 3p lower than lloys. hester is a banker we have a shop keeper

I worked for RBS (not in a part of the business that caused the crash I hasten to add)....

Fred deserves to lose his knighthood for 2 reasons.

1) He became too egocentric and arrogant and surrounded himself with yes men who were terrified (I mean terrified) of him.

2) He wasn't properly qualified to do the job (as were pretty much none of the other senior executives in the UK banking sector).

But the regulation of the banking sector was a disgrace in how lax it was. The regulators themselves are just civil servants - the FSA doesn't pay the salaries to

just read that in the tele it was for you harry

just sold my last lot of lloys shares at time11.44 amount 67992 at 31.49p