Share Dealing
Santander loses third boss to Lloyds Banking Group
Joe McGrath, 23 March 2011
Santander’s former head of the UK branch network has quit to follow colleagues Antonio Horta-Osorio and Juan Colombás to rival Lloyds Banking Group.
Alison Brittain will take responsibility for the 2,200-strong branch networks of the Lloyds TSB and Bank of Scotland brands.
Today’s news makes Brittain the third senior executive to switch banks as recently appointed group chief executive Horta-Osorio moves to drop in his preferred managers in key positions as part of his turnaround plan.
The appointment comes at a crucial time for Lloyds Banking Group as the independent banking commission is due to publish its report on the future of the banking industry.
Lloyds will learn next week whether the organisation will be broken up following an assessment of the bank’s market share.
Brittain is presently executive director for Retail Distribution at Santander UK and a board director, although she will not join the board at Lloyds.
She previously spent 19 years with Barclays including as director of the Barclays and Woolwich retail networks, and as managing director of Barclays Business Banking.
Brittain will report to Horta-Osório, and will be a member of the group executive committee from 5 September.
Speaking on the appointment, Horta-Osório said, ‘Alison Brittain brings a wealth of retail and business banking experience from her time at Barclays and Santander UK.
‘Her appointment will further strengthen the senior team at Lloyds Banking Group and continue to build the foundations that will enable us to deliver on our longer-term plans following our Strategic Review.’
The appointment is subject to FSA approval.
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