Lloyds TSB has promoted Helen Weir, group finance director, to the post of group executive director of UK retail banking with immediate effect.

Tim Tookey, currently deputy group finance director, will step in to replace Weir, who joined in 2004, as acting group finance director.

Eric Daniels, Lloyds TSB group chief executive, said: 'I am delighted to see Helen take up the leadership of the retail bank given her strong track record of delivery coupled with her experience of retail businesses.'

'Helen’s track record as group finance director and an executive director of Lloyds TSB speaks for itself. She is a hugely respected industry figure and it is natural that she should now bring her skills and considerable retail experience to our retail bank,' said Sir Victor Blank, Lloyds TSB chairman.