Lloyds TSB Corporate new MD

Truett Tate replaces Michael Riding as the managing director of Lloyds TSB Corporate with effect from January 1.

Tate has spent 28 years with Citibank, where he worked in the US, Europe, Latin America and Asia. Most recently he was co-founder and vice-chairman of the board of Chase Cost Management, a speciality consulting company for the professional services market. He brings to the role a combination of global and broad business experience, including raising capital, managing, restructuring and providing strategic advice to entrepreneurial businesses.