Lloyds hires ex-DBS Bank executive as chief operating officer

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The group has seen a 19 per cent increase in tactical retail savings accounts since the first quarter of this year, as customers are seeking to intentionally stash cash away now a holiday could be on the horizon (Photo by Carl Court/Getty Images)

Lloyds Banking Group has hired David Gledhill, a former executive of Singapore’s DBS Bank, as group chief operating officer.

Britain’s largest domestic bank said in a statement that Gledhill will join in August this year, subject to regulatory approval.

Gledhill will join Lloyds upon returning to the UK after 11 years with DBS Bank, where he was group chief information officer and head of technology & operations.

During his time in Singapore, DBS won several industry awards including ‘World’s Best Digital Bank’ in 2018.

Before joining DBS, Gledhill spent 20 years with JP Morgan in a number of operational roles throughout Asia.

“Dave is a proven leader in our industry, and it is very exciting to secure him and his wealth of experience,” said William Chalmers, interim group chief executive of Lloyds Banking Group.

“I also want to take this opportunity to thank David Oldfield for overseeing the role on an interim basis, in addition to his existing responsibilities, over the last few months until Dave arrives.”