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Change at top of insurer

Strauss to leave Scottish Widows – Lorenzo takes over

Toby StraussScottish Widows chief executive Toby Strauss is to leave the business after four years and will be replaced by Antonio Lorenzo.

Mr Lorenzo will also be interim group director of the company’s Lloyds Bank owned insurance division. He will remain responsible for the consumer finance and group corporate development arms.

Lloyds group chief executive António Horta-Osório said: “Antonio has played a key role in building the Consumer Finance division into a core growth area for the business. Antonio and the Insurance team will focus on ensuring we capitalise on these opportunities.

“During the last four years, Toby has helped to re-establish the Scottish Widows brand and deepened the Insurance division’s relationship with the Group.

“The next stage of our strategy involves a sustained investment over the next few years. Toby has reached the stage in his career where he feels unable to fully commit to that period of time. I would like to thank him for his hard work and dedication and we wish him well for the future.”

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