15th Feb 2019 10:22
LONDON (Alliance News) - Lloyds Banking Group PLC on Friday announced Chief Financial Officer George Culmer will retire from the lender in the third quarter of 2019.
Culmer will be succeeded as executive director and CFO by William Chalmers. Chalmers is currently co-head of global financial institutions at US investment bank Morgan Stanley.
Chalmers is expected to join Lloyds in June, to allow for a period of "induction and smooth transition" before joining the board and assuming CFO duties when Culmer retires.
The FTSE 100-listed lender is scheduled to release its 2018 results next Tuesday.
Shares in Lloyds were up 1.2% Friday at 58.08 pence each.
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