18 October 2017

Lloyds TSB nabs RBS man Fisher to lead Hbos integration

04 November 2008  |  13685 views  |  0 Mark Fisher, Lloyds

Lloyds TSB has named Mark Fisher - currently overseeing the integration of ABM Amro into the Royal Bank of Scotland (RBS) - as director of group IT and operations.

Fisher will join next year as a member of the group executive committee (GEC) of the newly named Lloyds Banking Group to head the integration of high street rival Hbos.

An RBS executive director, Fisher is currently seconded to ABN Amro as chief executive, overseeing the integration of the Dutch bank's business following its acquisition last year.

He has been a director of RBS since March 2006 and chief executive of the manufacturing division - which employs 25,000 people supporting IT, property, purchasing and back-office services functions - since 2000.

Fisher joined RBS in 2000 after the bank acquired NatWest, where he was chief operating officer. He then led the integration of NatWest, spanning 400 work streams, 22 billion records and 18 million customer accounts, including £158 billion in deposits.

Eric Daniels, group chief executive, Lloyds TSB, says: "I am delighted Mark is joining us; he has a deep expertise in banking and his proven track record in dealing with highly complex integration activity will be a great asset to the new Lloyds Banking Group."

Fisher will be charged with making significant savings for the new group, which yesterday said it expects to reap £1.5 billion annually from consolidation of technology, branch closures and job cuts.

In retail banking, Lloyds TSB expects to realise £790 million in savings over the next three years as it moves to close branches and call centres and consolidate processing and technology platforms.

Similar exercises across the insurance and investments arms, within wholesale and international banking and through the integration of central and support group functions will lead to a further £710 million in cost synergies.

The plans have raised fears that up to 30,000 jobs could be shed as a result of the merger, although Lloyds TSB has refused to provide any details.
KeywordsFINDEXPEOPLE

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Lloyds TSB details £1.5 billion cost cuts

Lloyds TSB details £1.5 billion cost cuts

03 November 2008  |  7526 views  |  0 comments
Hbos looking to offshore 2000 tech jobs - report

Hbos looking to offshore 2000 tech jobs - report

02 October 2008  |  12740 views  |  0 comments
Lloyds TSB told to ditch offshoring

Lloyds TSB told to ditch offshoring

23 September 2008  |  8349 views  |  0 comments
Citi to hire Lloyds TSB retail chief Dial

Citi to hire Lloyds TSB retail chief Dial

28 March 2008  |  4992 views  |  0 comments
Barclays-ABN Amro merger: one in ten jobs to go

Barclays-ABN Amro merger: one in ten jobs to go

23 April 2007  |  11852 views  |  0 comments

Related company news

 

Related company information

ABN Amro

Related blogs

Create a blog about this story (membership required)
visit www.capgemini.comvisit www.vasco.comRegister now

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15262 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8461 views comments | 16 tweets | 21 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
7954 views 0 | 7 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7427 views comments | 13 tweets | 8 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6581 views comments | 8 tweets | 16 linkedin

Featured job

to £70K base, £105K ote, benefits
London, UK

Find your next job