UKFI denies Bischoff to chair Lloyds

1st Jul 2009 12:01

UKFI, the body in charge of running the UK government's stake in Lloyds, has denied it is close to appointing City veteran and former Citigroup head Sir Win Bischoff as its new chairman.A report in the FT suggested Bischoff, 67, has been asked to take the job and see it through until recent acquisition HBOS is fully integrated. The report said Bischoff knew current Lloyds' chief executive Eric Daniels well and would support his plans to rejuvenate the bank rather than bring in a new chief executive.UK Financial Investments (UKFI) described the report as "pure speculation," adding that no-one else had been asked either. "The process to select a new chairman is being run by Lloyds and is still ongoing," UKFI said in a statement.Current chairman Victor Blank will stand down next year after intense criticism of his role in the bank's purchase of troubled rival HBOS and the way that deal was agreed with the government.Other names linked with the job include Mervyn Davies, the former head of Standard Chartered and Lloyds deputy Chairman Sandy Leitch.