Lloyds Banking Group, the part-nationalised British bank, on February 02 appointed a former US Treasury official and investment banker to its board.
Timothy Ryan, a former J. P Morgan Chase banker who also worked in the Treasury's Office of Thrift Supervision, will become a non-executive director at Lloyds as soon as his appointment is approved by the Financial Services Authority, the bank said in a statement. "His experience in the governmental sector, including the interaction between the state and the private sector, will be very valuable to us in the future," Lloyds chairman Sir Victor Blank said.
The British government acquired a 43.3 percent stake in Lloyds Banking Group as part of its 37 billion pound ($52.38 billion) bailout of the banking sector last October.
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