Lloyds bank names Santander UK boss as new chief executive

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Britain's state-rescued Lloyds bank said on Wednesday that it had picked Antonio Horta-Osorio, the head of Spanish-owned rival Santander UK, to become its new chief executive.

"Lloyds Banking Group plc announces the appointment of Antonio Horta-Osorio to succeed Eric Daniels as group chief executive," the lender said in a brief statement.

"Antonio will join the group early in 2011 and will take over as group chief executive on 1 March 2011," added LBG, which is 41-percent owned by the British government after a huge bailout at the height of the global financial crisis.

© 2010 AFP

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