Charlie Nunn appointed as chief executive of Lloyds Bank
Bank of Scotland owner Lloyds Banking Group has appointed Charlie Nunn as its new group chief executive officer and executive director.
Mr Nunn is currently global chief executive, wealth and personal banking at HSBC. Since joining HSBC in 2011, Mr Nunn has held a range of leadership positions including global chief operating officer of retail banking and wealth management, group head of wealth management and digital, and chief executive of retail banking and wealth management, assuming his current role in February 2018.
He began his career at Accenture where he worked for 13 years in the US, France, Switzerland and the UK and became a partner. He then moved to McKinsey & Co. as a senior partner for five years.
Robin Budenberg, non-executive director and incoming chairman from 1 January 2021, said: “I am excited about Charlie’s vision for Lloyds Banking Group, as well as his passion for and commitment to our purpose of helping Britain prosper. Given his career track record, he will bring world class operational, technology and strategic expertise to build on the strengths of the existing management team. I look forward to welcoming him to the group.”
Mr Nunn added: “I feel particularly lucky to be joining Lloyds Banking Group at this important time. Lloyds’ history, exceptional people and leading position in the UK means it is uniquely placed to define the future of exceptional customer service in UK financial services. I look forward to building on the work of António and the team and their commitment to helping Britain prosper.”
António Horta-Osório, the outgoing group CEO, commented: “Charlie will find a warm welcome at Lloyds Banking Group and a deep commitment from all of our people to deliver on our purpose and to help Britain recover. I am sure that he will find his time here as fulfilling and fascinating as I have done and I wish him the very best.”
The appointment follows a rigorous selection process managed by Robin Budenberg, Lord Blackwell and Alan Dickinson, deputy chairman and senior independent director.
The date at which Mr Nunn takes up his role will be subject to agreement with his current employer where his contract of employment contains a six month notice period and up to six months’ post termination restrictions.
In the event that Mr Horta-Osório steps down ahead of Mr Nunn’s appointment, William Chalmers, CFO, would take on the additional role of acting CEO for the interim period.