activities of Lloyds TSB and HBOS is starting to gather pace, with
the announcement that David Oldfield will take the reins at the
asset and motor finance division of newly-created Lloyds Banking
Group (LBG).
Lloyds’s Asset Finance division. Meanwhile, his counterpart at
HBOS, Lindsay Town, is to take early retirement in April.
A spokesman for Bank of Scotland explained the move
as a “personal decision” for Town. Until April, Town will work with
Oldfield as a transition advisor.
Town, who worked for 10 years at Halifax and then
HBOS, and has spent over 34 years in the asset finance industry,
was instrumental in setting up the Halifax’s high value asset
finance business line.
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The Oldfield appointment takes place within a wider
restructuring involving asset finance, which will see all
activities that previously fell under the banner of “commercial
banking” for both organisations subsumed into an overarching
“wholesale” division.
Truett Tate, an American who joined Lloyds TSB in
2003, is the new executive director of wholesale and international
banking, LBG confirmed.
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