Lloyds Banking Group PLC has announced that Lord Lupton will be stepping down as a non-executive director of the Group at its 2024 annual general meeting, after serving almost seven years on the Board. Additionally, he will also be stepping down as Chair of Lloyds Bank Corporate Markets plc at the same time. The process for the appointment of the next Chair of LBCM is well-advanced, and John Owen, the Senior Independent Director of LBCM, will take on the role of interim Chair of LBCM when Lord Lupton steps down.

Sir Robin Budenberg, Group Chair, expressed his gratitude, saying, "I would like to thank James for the valuable contribution he has made to the Board since June 2017 and for his leadership as the inaugural Chair of Lloyds Bank Corporate Markets and for his personal support for me since I became Chair. I wish James the best for the future. I would also like to thank John for taking on this important additional role."

The Group provided contact information for further inquiries: Douglas Radcliffe, Group Investor Relations Director, and Matt Smith, Head of Media Relations.

This announcement marks a significant change in the leadership of Lloyds Banking Group, with the departure of Lord Lupton and the transition to an interim Chair for Lloyds Bank Corporate Markets plc.