Lloyds outlines management team post HBOS takeover

LONDON, Oct 30 (Reuters) – British bank Lloyds TSB named on Thursday the key figures who will form the management team following its proposed takeover of HBOS, with the list dominated by names from Lloyds' existing team.

Key positions such as the head of UK retail banking and wholesale have been handed to the Lloyds' executives currently in the roles, Helen Weir and Truett Tate.

Lloyds stepped in to buy HBOS last month in a government-brokered deal, after its rival was hit by the credit crunch and concerns about its exposure to the UK housing market.

Lloyds also confirmed that its acting group finance director, Tim Tookey, will take on the role permanently with immediate effect and within the merged group.

As previously announced, Chairman Victor Blank and Chief Executive Eric Daniels will head up the enlarged group. The outgoing chief executive of HBOS, Andy Hornby, will not be part of the new entity's management.

The enlarged group will also include a new division, dubbed 'Wealth & International', led by HBOS's Jo Dawson, the former head of its insurance and investment division.

The other HBOS executive to join the group executive committee is Harry Bain, named as company secretary and general counsel.

Nine appointments were announced by Lloyds on Thursday, with the director of IT and operations to be announced in due course.

Lloyds has said it expects to complete its takeover of HBOS and its raising of new capital by January, after giving shareholders a vote on both in the third week of November.