HSBC global chief executive Charlie Nunn is to replace António Horta-Osório as group chief executive of Lloyds Banking Group.
The appointment follows news that Horta-Osório is to step down after 10 years at the helm of the group, which includes Scottish Widows and Halifax Bank among a number of other insurance, investment, and commercial banking subsidiaries across the UK.
Nunn (pictured) has held a range of roles during his time with HSBC including as chief operating officer of retail banking and wealth management, chief executive of retail banking and wealth management, and group head of wealth management and digital. He began his career at Accenture where he worked for 13 years across the US, France, Switzerland, and the UK.
The date at which Nunn will take over the role will be subject to an agreement with HSBC, which stipulates a six-month notice period and a further six-month post-termination restrictions period.
Lloyds confirmed its group chief financial officer William Chalmers will take on the position in an interim capacity should Horta-Osório step down before Nunn can begin.
