Lloyds retail executives leave in revamp; Absa names new executives

S&P Global Market Intelligence presents a daily roundup of senior management and board changes at financial institutions in Europe, the Middle East and Africa.

Lloyds Banking Group

Lloyds Banking Group PLC's retail bank group director Vim Maru has left the company, and Transformation Director Stephen Noakes will also leave, the Financial Times (London) reported, citing an internal memo.

The bank appointed its managing director of consumer finance, Elyn Corfield, as group director for business and commercial banking.

Lloyds is undergoing a restructuring that will see it diversify income away from mortgages, according to the FT.

Additionally, Lloyds named Scott Wheway a nonexecutive director of the group and of life insurance unit Scottish Widows Group Ltd., effective Aug. 1 and Sept. 12, respectively.

Absa Group

Absa Group Ltd. appointed Punki Modise group chief strategy and sustainability officer and Saviour Chibiya CEO of retail and business banking for Absa's regional operations as part of the South African bank's operating model revamp, effective July 1.

The search for permanent appointments for the roles of group chief information technology officer and group chief brand and marketing officer are still underway, Absa said June 30.

SPB Exchange

Ivan Tyryshkin, chairman of the board of directors at Russia-based PJSC SPB Exchange, decided to step down, effective June 29. Tyryshkin is among 13 individuals and entities affected by the latest round of sanctions imposed by the U.K. over Russia's invasion of Ukraine.

In the first half of 2022, independent directors Jacques Der Megreditchian, Eric Berthelot, Alexander Chmel, Olga Pascault and Elena Khisamova also resigned from the board, SPB Exchange said.

PensionBee

PensionBee Group PLC CFO Christoph Johannes Martin joined the U.K.-based online pension provider's board as an executive director, effective immediately.

United Gulf Holding Co.

Bahrain-based United Gulf Holding Company BSC appointed Sunny Bhatia as a board member representing parent Kuwait Projects Company Holding KSCP.

Bhatia replaces Sadoun Ali.

Al Rajhi Banking & Investment

Stefano Paolo Bertamini resigned as a board member of Saudi Arabia-based Al Rajhi Banking & Investment Corp. on June 29 to take up the role of chairman at Taiwan's KGI Bank Co. Ltd.

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