Lloyds TSB managing director for sales and marketing Dennis Holt is being replaced by marketing services director Ford Ennals, who becomes director of marketing services.
Holt will now run general insurance.
The changes come at the same time as retail financial services deputy chief executive Paul Brown, the director ultimately responsible for advertising and marketing, has quit unexpectedly to take early retirement.
Brown was expected to take over from Peter Ellwood as chief executive of retail financial services (MW September 27 1996). A memo to managers says Brown has left “to pursue other interests”.
He became deputy chief executive in April last year.
Ellwood will succeed Brian Pitman as Lloyds TSB group chief executive on February 7.
Colin Fisher, who was expected to replace Brown, has a less significant role at the bank as director of branch network on the same level as Ennals.
Ennals’ promotion has been rapid. He began as a consultant for Lloyds TSB in the summer and replaced Tim Pile in November as marketing services director.
Ennals is likely to review advertising arrangements after a reappraisal of its brands, which include Lloyds, TSB and Cheltenham & Gloucester. The agencies involved are Lowe Howard-Spink, DMB&B and K Advertising respectively.