Lloyds Banking Group has named Markus Stadlmann as new chief investment officer for its wealth and mass affluent unit.
Stadlmann joined Lloyds from Barclays =, where he served as discretionary head for Barclays Wealth. Prior to this, he worked at Siemens AG, West Lab Asset Management, VP Bank Group and Harald Quandt Holding.
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Additionally, Lloyds has also hired Simon Kenyon as new managing director for wealth and mass affluent division replacing Russell Galley, who will continue to remain as COO for retail.
In his new role, Kenyon will report directly to Lloyds group director of retail Alison Brittain.
Kenyon, who joined Lloyds in 2006, was most recently director of everyday banking and initially worked in group strategy before moving over to retail.
The wealth and mass affluent unit is part of the group’s retail division that includes International Wealth, and serves some 500,000 clients.
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By GlobalDataAlison Brittain said: "The integration of our Wealth business into the Retail division is an important component of our strategy to become the best bank for customers. I am delighted that Simon will build on his extensive exposure in the retail and mass affluent space to lead the business"
