UK-listed Lloyds Banking Group has named Simon Kenyon as its new managing director for the wealth and mass affluent segment, supported by Markus Stadalmann as its new chief investment officer.

UK-listed Lloyds Banking Group has named Simon Kenyon as its new managing director for the wealth and mass affluent segment, supported by Markus Stadalmann as its new chief investment officer.

Kenyon will report directly into Alison Brittain, group director, retail. Kenyon replaces Russell Galley, who remains chief operating officer for retail, the bank said in a statement. Kenyon joined Lloyds in 2006 initially working in group strategy; he later moved over to the retail side, holding a variety of roles, most recently as director of Everyday Banking (personal current accounts, loans and savings).

Stadalmann has over 20 years experience in wealth and asset management working in a variety of senior roles at Siemens AG, West Lab Asset Management, VP Bank Group, Harald Quandt Holding and Barclay’s wealth and investment management business. Simon Bratt was in the Lloyds role prior to Stadalamm in an interim capacity.

“The integration of our Wealth business into the Retail division is an important component of our strategy to become the best bank for customers,” Brittain said.