Lloyds TSB Restructures Middle East Operations

Bob Reynolds

1 May 2007

Lloyds TSB, has announced the immediate restructuring of its Middle East banking operations. Both its local personal banking business and international offshore banking will become one joint unit, known as Personal Banking. This is in response to a perceived need to provide seamless service across all of their bank accounts, services and banking relationships. Lloyds TSB has also announced the departure of its regional chief executive Giles Cunningham. He has been appointed director for onshore banking of Lloyds TSB International Banking in London. In addition, he is responsible for strategy and change within the division. Bert de Ruiter will act as interim chief executive until an appointment is made to replace Mr Cunningham as CEO Middle East.