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Lloyds Chairman Bischoff Not Planning to Step Down, FT Reports

May 13 (Bloomberg) -- Lloyds Banking Group Plc Chairman Win Bischoff isn’t planning to step down before the U.K. begins to sell its 41 percent stake back to the public and said he will still be at the bank “in one or two years,” the Financial Times reported, citing an interview.

Lloyds, which the U.K.’s Independent Commission on Banking’s April report suggested should divest “substantially” more branches than the 600 it was ordered to shed by the European Commission, “firmly” believes that 600 branches “is enough,” Bischoff said, according to the FT.

To contact the reporter on this story: Blanche Gatt in London at bgatt@bloomberg.net

To contact the editor responsible for this story: Colin Keatinge at ckeatinge@bloomberg.net.

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