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Two ex-HBOS directors leave Lloyds group on same day

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


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  • Brian Jefferson 17th February 2010 at 2:32 pm

    Nikki Turner – Hear Hear!

    I remember Hornby announcing ‘We are a strong bank’the day before they collapsed. The whole thing is a joke. When shareprices started to decline the FSA (run by the ex HBOS director- James Crosby, also responsible for profit at all costs) made a statement that these were ‘malicious roumours’ Ha!

    Hornby new what the situation was but lied until he couldn’t lie anymore. I personally would have him and all responsible executed.

    There has been a cover up- wake up people!

  • Nikki Turner 8th February 2010 at 2:30 pm

    There departure can’t be co-incidental but the details of why they left will remain confidential – because, as always, shareholders are never told the truth about anything to do with HBOS.