Colin Walsh to leave Lloyds Banking Group

Colin Walsh, managing director of mortgages at Lloyds Banking Group has announced that he is leaving the lender and his role as chairman of the Council of Mortgage Lenders.

On 1 June, Antonio Lorenzo, director of wealth and international at Lloyds Group announced new leadership teams for the retail and wealth business.

A new managing director of products was appointed – Vim Maru with responsibility for all of the product areas – including mortgages.

It is also appointing a new director of Intermediaries, who will oversee all intermediary business, not just mortgages.

Walsh will leave in the next few months and before he departs he will be working on setting up the intermediary business under the new structure.

A spokeswoman for Lloyds Group, says: “Intermediary sales are a key distribution channel for the group, and for this reason we need greater focus on this area.

“The Intermediaries business will span across the retail business – including mortgages – and also wealth – and is aimed at deepening the group’s relationships with intermediaries and ensuring that we interact with them in a consistent way.

“Colin has agreed to stay with us for the next few months to support the transition to the new business model and the establishment and strategy development of the Intermediary business.

“Colin will be overseeing an orderly transition for all of his responsibilities and that includes his role as CML chairman.”