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Bischoff lined up to succeed Blank at Lloyds
1 Jul 2009Lloyds Banking Group today refused to confirm that veteran banker Sir Win Bischoff will replace Sir Victor Blank as its next chairman.
Bischoff, 67, who until February was chairman of Citigroup, has emerged as UK Financial Investments' favourite to oversee the completion of the merger of Lloyds and HBOS. UKFI holds the Government's 43% stake in Lloyds after the taxpayers' £20 billion bailout of the two banks.
"The succession process is in place and we will update the market in due course," said a Lloyds spokesman.
But Bischoff is widely seen as a very strong candidate for the post partly because he is understood to get on with Lloyds chief executive Eric Daniels who is overseeing most of the day-to-day process of the merger which has so far seen 7,000 jobs go at the bank.
