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Lloyds, Schroders name senior management for Schroders Personal Wealth JV

Lloyds Banking Group PLC and Schroders PLC revealed nine senior management appointments for their wealth management joint venture, dubbed Schroders Personal Wealth, announced in October 2018.

The companies said in 2018 that James Rainbow, Schroders' co-head of intermediary sales, would become CEO of Schroders Personal Wealth while Antonio Lorenzo, CEO of Lloyds' Scottish Widows Group Ltd. unit, would serve as chairman.

The latest appointments include James Cardew, Schroders' global head of marketing, who will become chief marketing officer; Marcus Brookes, head of Schroders' multi-manager team, who will become chief investment officer; and Marietta Connery, head of human resources solutions at Schroders, who will head human resources at the new entity.

From Lloyds, Nick Allen will become COO of the new entity, having previously been COO of Lloyds' transformation division; Joel Ripley will be CFO, moving in June from his role as finance director for wealth and stock broking; and Barrie Jackson will become chief risk officer, having previously been audit director for financial, operational risk and governance.

David Lawrence becomes chief commercial officer, moving from his role as strategy, transition and planning director for Lloyds' insurance and wealth transformation; Colin Newham will serve as chief internal auditor, having been quality assurance and methodology audit director; and Sarah Deaves will be the managing director in charge of client relationships and wealth advice, shifting from the role of U.K. wealth director at Lloyds.

Schroders and Lloyds said the new business is expected to launch in June once regulatory approval is secured.