Lloyds reportedly reshuffles senior jobs ahead of strategic update
Lloyds Banking Group has reportedly reshuffled executives ahead of a strategy review this year.
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The reshuffle, by chief executive Antonio Horta-Osorio, will result in creating a new role to advise on the strategic update, Bloomberg reported on Friday.
Former customer services director of Lloyds, Jennifer Tippen will lead group organisational design and cost management, sources told the media outlet.
She is also expected to help Lloyds prepare a three-year business plan aimed at protecting the lender from record-low interest rates, which are putting pressure on profit margins, and addressing growing competition from fintech lenders.
The business plan is due to be announced in the third quarter.