City hails Pitman 'most respected banker' after his death aged 78

CITY luminaries paid tribute yesterday to "the most respected banker of his generation" after former Lloyds chief executive and chairman Sir Brian Pitman died at the age of 78.

Pitman was credited with a central role in shaping the UK retail banking sector during his lengthy tenure in the industry.

He notched up a 49-year career at Lloyds that saw him lead the group through its merger with TSB in 1995, before retiring almost ten years ago.

The banking stalwart was recently appointed as chairman of Virgin Money to lead its push to become a high street bank.

He had strong links with the Virgin Group, having advised the firm on its attempt to secure Northern Rock before the UK government took it into public ownership in 2008.

Eric Daniels, chief executive of Lloyds Banking Group, said: "Sir Brian was a truly inspirational leader who contributed an enormous amount to Lloyds over many years. He was a towering figure in our industry and was involved in many of the major changes that have shaped the banking sector."

Virgin Money chief executive Jayne-Anne Gadhia – who only named Pitman as her chairman six weeks ago – said he was "a warm and wonderful man".

She added: "I learnt so much from him. He was never too busy to give advice, support and share his unrivalled experience."