Lloyds Banking Names William Chalmers Executive Director And CFO

(RTTNews) - Lloyds Banking Group (LLOY.L) announced it has named William Chalmers as Executive Director and Chief Financial Officer.

The company previously announced the decision of George Culmer to retire from the Group in Q3 2019.

It is envisaged that Chalmers will join the Group in June 2019, allowing for a period of induction and smooth transition prior to joining the Board and assuming the role of Chief Financial Officer upon George Culmer's departure. The company specified that Chalmers is currently Co-Head of the Global Financial Institutions Group of Morgan Stanley, having joined in 2000.

The company noted that Chalmers fixed remuneration will consist of a basic salary of £794,938 and a Fixed Share Award of £504,000, delivered in shares over five years.