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LONDON - Lloyds Banking Group plc (LSE:LLOY) announced Monday that Scott Wheway will step down as a Non-Executive Director and Chair of Scottish Widows Group effective October 31, 2025.
Wheway, who also serves on the Board Risk Committee and Nomination and Governance Committee, is departing to become Chair at Legal & General Group Plc, where he will take up a Non-Executive Director position beginning January 2, 2026.
Chris Moulder, the Senior Independent Director of Scottish Widows Group, will serve as interim Chair subject to regulatory approval while the bank conducts a search process for a permanent replacement.
"I and the Board would like to thank Scott for the contribution he has made to LBG and for the leadership and commercial acumen he has brought to the Board and in his role as Chair of Scottish Widows Group," said Sir Robin Budenberg, Lloyds Banking Group Chair, in a press release statement.
Lloyds Banking Group, one of the UK’s largest financial services organizations, operates multiple brands including Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows.
The announcement comes as part of ongoing board changes at major UK financial institutions, with Scottish Widows representing a significant part of Lloyds Banking Group’s insurance and wealth management operations.
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