Lloyds confirms Lord Blackwell to succeed Bischoff as Chairman

Lloyds Banking Group on Monday confirmed that Lord Blackwell, who has been a Non-Executive Director of the group since June 2012, will succeed Sir Winfried Bischoff as Chairman with effect from April 3rd 2014, when Sir Winfried is due to retire.Lord Blackwell is also a member of the group's Audit and Risk Committees. He is also the Chairman of its Insurance business, Scottish Widows, having been appointed to that role in September 2012.Blackwell has held a number of senior positions in banking and insurance. Amongst other posts he was a Non-Executive Director at Standard Life from 2003 to 2012, where he was also the Senior Independent Director from 2008.Blackwell also spent 15 years in management consultancy with McKinsey & Company, as well serving as Head of the Prime Minister's Policy Unit. He has been Chairman of FTSE-listed company Interserve since 2006. He also has extensive regulatory experience having served on the boards of the Office of Fair Trading and Ofcom. As of 13:16 shares of Lloyds are rising by 1.4% to the 78.5p mark. AB