Lloyds Banking Group has appointed a new group chief risk officer, who is set to join the bank in September.<\/p>\n
Javier Rodr\u00edguez de Colmenares joins the UK bank following more than a decade in risk roles at Santander, where he is currently the Spanish lender\u2019s global chief risk officer for corporate and investment banking based in London.<\/p>\n
Lloyds\u2019 current group CRO, Stephen Shelley, is set to retire later this year after 15 years at the lender, in a role which oversaw a \u201cfundamental reshaping\u201d of the bank\u2019s risk management function and culture.<\/p>\n
\u201cJavier\u2009.\u2009.\u2009. has an outstanding track record of transforming and innovating to drive a strong risk management culture, drawing on technology to deliver faster insight and decision-making,\u201d Charlie Nunn, chief executive of Lloyds, said in a statement on Wednesday.<\/p>\n
The appointment comes after the lender said in March that almost half a million<\/a> Lloyds, Halifax and Bank of Scotland customers saw other people\u2019s transactions or had their own data shared in a recent IT issue.<\/p>\n In a letter responding to the Treasury select committee\u2019s enquiries about the incident, Lloyds said the glitch had affected up to 447,936 customers.<\/p>\n The cause of the incident was identified as a software defect, which occurred during an overnight update, according to the Treasury select committee.<\/p>\n The appointment also follows the bank\u2019s recruitment for a new head of motor finance compliance<\/a>, after its current lead stepped down at a time when the lender is grappling with the car finance mis-selling scandal.<\/p>\n