Andy Briggs moves as Lloyds unveils management shake-up

Published on Saturday 6 February 2010 15:44

A SHAKE-UP of senior positions at Lloyds Banking Group has seen the last two members of the old HBOS board quit the company and Andy Briggs, managing director of Scottish Widows, move to another post.

Jo Dawson, director of wealth and international, and Dan Watkins, managing director of mortgages, will leave at the end of the month just 15 months after the ill-fated merger of Lloyds and HBOS. They were the only members of the former HBOS board retained by Lloyds chief executive Eric Daniels, though neither joined the Lloyds board.

There was no explanation for their departure beyond a terse statement saying they were leaving "to pursue other opportunities". They each earned a basic salary of 550,000 at HBOS.

Dawson was criticised by whistleblower Paul Moore in last year's investigation into the collapse of HBOS over the bank's exposure to risk.

Her job will be absorbed by Truett Tate, group executive director of wholesale, while Mike Kulam, operations director of mortgages, will act as interim head of mortgages until Watkins' successor is announced.

Briggs will move from Widows to become managing director of all the group's general insurance business, a role currently held by Phil Loney who swaps that job to take on the post of a newly combined life, pensions and investments business. Both will report to Archie Kane, group executive director of insurance.

Jim McConville, currently finance director of the life, pensions and investments business, will leave and be replaced by Kerr Luscombe from Pearl Assurance.

Ed Smith, chief operating officer at RBS insurance, takes up the new role of managing director of operations, working with Mark Fisher.