Former HBOS directors Dan Watkins and Jo Dawson both resigned from Lloyds Banking Group last Friday.
Watkins quit as managing di rector of mortgages, with Mike Kula, previously head of retail operations at the firm, taking over his position on an interim basis.
Watkins was previously chief executive of retail products at HBOS and had been part of the group since he joined BM Solutions in 1993.
On the same day Dawson, who replaced infamous whistle-blower Paul Moore as group risk director at HBOS, also resigned from her post as director of the wealth and international division of Lloyds group.
One source tells Mortgage Strategy: “Both were members of the HBOS board and the timing of their departures cannot be coincidental.”
Meanwhile, Ed Smith is joining Lloyds group from the Royal Bank of Scotland in the newly-created role of managing director of operations