Victor Blank tipped to head Lloyds TSB |
|
|
Published
:
Mon, 23 Jan 2006 14:00
|
LONDON: Sir Victor Blank, chairman of retailer GUS and media group Trinity Mirror, is tipped to become the chairman of Lloyds TSB Group Plc.
According to newspaper reports, Blank has been identified to take over from Maarten van den Bergh, who has been the bank's chairman since 2001. The bank had entrusted the work of identifying a suitable candidate to head hunters some 18 months ago. The bank refused to comment on the report saying if and when its board has to make an announcement, it will do so.
The reports said the appointment is imminent and an announcement could take place within a fortnight.
Lloyds TSB is the largest provider of current accounts in the country. However, its other portfolios are lacklustre and it seems to be facing a sort of stagnation. It is also saddled with Scottish Widows, the life and pensions business it bought for a high price in 1999.
Poor performance of this unit and some others has made Lloyds a virtual takeover target and it will be a task clearly earmarked for Sir Victor to ward of such threats.
Sir Victor, a lawyer and former director of Royal Bank of Scotland, has adequate experience in banking as well as in retailing. As regulatory norms specify a person cannot hold chairmanship in more than two FTSE100 companies, Sir Victor will have to think of quitting either GUS or Trinity Mirror. Which one he will opt for is now unclear.
|
|
|
|
|
|
|
| Stock
Quotes * |
|
NASDAQ
|
|
1445.56 |
-46.82 (
-3.19 %)
|
| SYMBOL (
2008-12-05 ) |
| LAST |
CHANGE
|
|
RIO TINTO
(
3:22am )
|
|
1125.00 |
+38.00 (
3.46 %)
|
| SYMBOL (
2008-12-04 )
|
| LAST |
CHANGE
|
|
DUPONT
(
4:01pm ) |
|
23.69 |
+0.08 (
0.36 %)
|
| SYMBOL (
2008-12-04 )
|
| LAST |
CHANGE
|
|
|
Print this Story
Scottish property market slowing down: Lloyds TSB study 