A new face is set to appear in the top ranks of British banking today as Charlie Nunn starts as chief executive of Lloyds Bank.
Nunn, the former head of wealth and personal banking at HSBC, takes over from Antonio Horta-Osorio.
Getting to grips with the job: Charlie Nunn takes over from Antonio Horta-Osorio
The keen cyclist and father of four joins as Lloyds ramps up its push into wealth management. But after a tough year for the bank, Nunn is hinting that cuts could be on the way.
David Herro, of Harris Associates, a Lloyds shareholder who recently met Nunn, told Bloomberg: ‘He understands that a bank must be continually improving efficiency.’
Nunn will also have to deal with the fallout from a bungled compensation scheme designed to help victims of the historical HBOS Reading fraud.
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