Former Barclays Wealth discretionary boss joins Lloyds

Lloyds Banking Group has hired the former head of discretionary from Barclays' Wealth as part of a rejig of senior personnel within its wealth division.

Markus Stadlmann, who joined Barclays in 2011 from family office Harald Quandt before departing for Erste Bank last year, joins as CIO of Lloyds' wealth and mass affluent division. He will support Simon Kenyon, who has taken over as managing director of wealth and mass affluent. Kenyon, who was previously director of everyday banking at the group, takes over from Russell Galley, who remains COO for the bank's retail division. The appointment comes as Lloyds shifts its wealth business to become part of the retail division.  The bank says it has over 500,000 clients across its wea...