Lloyds names Santander UK head as new CEO

The Lloyds Banking Group has named the boss of Santander's UK operations António Horta-Osório as its new CEO, replacing Eric Daniels.

Horta-Osório, who has been CEO of Santander UK since 2006, will take over the role of Lloyds group chief executive on 1 March 2011. "He has led the successful expansion of the Santander Group in the UK through strong organic growth and the integration of the activities of Abbey, Alliance & Leicester and the Bradford & Bingley savings business," Lloyds says. Daniels led Lloyds' takeover of HBOS in September 2008, which forced the banking giant to turn to the government for a £17bn bailout during the financial crisis. In September, Daniels indicated he would step down within 12 months a...