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14 February 2014
LLOYDS BANKING GROUP ANNOUNCES WILL SAMUEL AS CHAIRMAN OF TSB
Lloyds Banking Group announces the appointment of Will Samuel as the Chairman of TSB Bank plc ("TSB"). Will is currently Chairman at the Ecclesiastical Insurance Group Plc and Chairman of Howden Joinery Group plc. Previously he was a Director of Schroders plc, a Vice Chairman of Investment Banking at Citigroup Europe, a Senior Adviser at Lazard & Co Ltd and a Senior Adviser to the Prudential Regulatory Authority. He will join the TSB Bank Board immediately.
The creation of TSB followed a ruling by the European Commission in 2009 by which Lloyds Banking Group agreed to the divestment of a retail banking business with over 600 branches. On 9 September 2013, TSB was launched across Great Britain, bringing a new competitor to the market offering current accounts, savings, mortgages, insurance and loans as well as supporting small businesses. Lloyds Banking Group has stated its intention to float the TSB business through an Initial Public Offering during 2014.
Lloyds Banking Group Chairman Sir Winfried Bischoff said: "This is a great appointment for Lloyds and for TSB. Will brings a wealth of experience to the role and is well-regarded by the market and across the financial services industry. He is a key hire and will be instrumental in building TSB's independent future as a challenger to the other high street banks."
Will Samuel said: "I am delighted to be appointed as Chairman of TSB. The bank has an exciting future ahead as we move to independence and establish ourselves as the home of local banking."
For further information:
Group Corporate Affairs Director
Telephone: 0207 356 2231
Group Media Relations
Telephone: +0207 356 3522
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