Lloyds makes interim CEO contingency plans

Though Lloyds Banking says that its chief executive, António Horta-Osório, is making good progress after being ordered by his medical advisors to take a rest, the part-nationalised lender has made contingency plans just in case he does not return to the role by the end of the year as originally planned.The company said that David Roberts, a non-executive director and chairman of Lloyds' Risk Committee, will take over as interim group chief executive if Horta-Osório's recuperation period takes longer than initially envisaged.Chief financial officer Tim Tookey is currently sitting in the chief exec's chair, but he is due to move on to Friends Life, a division of insurance outfit Resolution, in February 2012.The lender also revealed that Nathan Bostock, presently Royal Bank of Scotland's (RBS) head of restructuring and risk, will not now be leaving RBS to take charge next year of Lloyds' wholesale banking division.As a result, Truett Tate will continue in his role as group executive director, Wholesale, as has been his responsibility for the last seven years. Truett will also continue in his role as vice chairman, Client Coverage.As of 11:33 shares of Lloyds are falling by 5.76% to 23.74p. AB