Lloyds deputy chairman to step down

Lloyds Banking Group said Glen Moreno, its deputy chairman and senior independent director, will not seek re-election at the company’s AGM on May 17, having joined the board in March 2010.

Chairman Win Bischoff described him as “an indefatigable champion” of Lloyds shareholders.

Anthony Watson, chairman of the remuneration committee, will become senior independent director, and David Roberts, chairman of the risk committee, becomes deputy chairman.