|
|
19 Sep 2011
LLOYDS BANKING GROUP finance director Tim Tookey is quitting amid reports of a falling out with new chief executive António Horta-Osório.
Tookey will follow former Lloyds executive Andy Briggs to insurance provider Friends Life, where he is to take up the post of chief financial officer, the Financial Times reports.
Further reading
Horta-Osório joined from Santander on 1 March and Tookey is said to have harboured concerns over new business targets, including 15,000 job cuts, £1.5bn annual cost savings and a return on equity of up to 14.5% by 2014.
Tookey may have felt pressured by the hiring of Nathan Bostock, former FD of Santander UK, as head of wholesale banking. One source said this move gave Horta-Osório "a lot of flexibility" if Tookey were to go.
You may also like
Search thousands of financial jobs:
Search thousands of financial jobs:
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
Visitor comments Add your comment