Lloyds Banking Group PLC operations chief delays retirement to help with

Chief operating officer Juan Colombás is a long-time colleague of boss Antonio Horta-Osório

PLC’s () operations director Juan Colombás has agreed to delay his retirement to help the lender through the coronavirus crisis.

The Spaniard, who like chief executive Antonio Horta-Osório joined the group from Santander in 2011, will remain in his role and on the Board until 18 September, having been expecting to step down in July.

“The revised departure date will allow Juan to continue playing a key role in the group’s response to the Covid-19 crisis,” the FTSE 100 group said.

Colombás, whose departure had been announced in October, has led Lloyds’ digital strategy in recent years, having started in the role of chief risk officer where he led the restructuring of the balance sheet in the wake of the global financial crisis.

Earlier this week the bank revealed its first-quarter profits had plummeted 95% after taking a £1.4bn write-down in preparation for bad loans resulting from the coronavirus crisis. 

Lloyds shares were down almost 4% to 31p on Friday morning.

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