Lloyds' costs, integration expert Fisher to leave

Reuters - UK Focus

LONDON, April 23 (Reuters) - Lloyds Banking Group's director of operations, Mark Fisher, is leaving the bank afterfive years overseeing its integration of HBOS, the separation ofmore than 600 branches and a major cost-cutting programme.

Fisher will become a non-executive director of TSB, the bankwith 631 branches that has been spun out from Lloyds and is dueto list on the London stock market in June. He has been involvedin separating it from Lloyds and building it as a separate bank.

Fisher was poached by Lloyds in March 2009 from Royal Bankof Scotland, where his roles included handling theintegration of NatWest in 2000. He joined NatWest in 1981 andwas its chief operating officer before it was bought by RBS (LSE: RBS.L - news) .

He is respected in the industry for handling complexintegrations and divestments and overseeing cost-cuttingprogrammes.

Fisher will leave Lloyds on May 31. Lloyds said he will bereplaced as head of operations by his deputy, David Oldfield. (Reporting by Steve Slater, editing by Louise Heavens)

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