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Lloyds chairman Blank to quit -newspaper

Sat May 16, 2009 8:32pm EDT

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LONDON, May 16 (Reuters) - Victor Blank will stand down as chairman of Lloyds Banking Group (LLOY.L) and may announce his decision as soon as Sunday, the Telegraph newspaper said in an article posted on its website on Saturday.

"Sir Victor, who has been under mounting pressure from institutional shareholders following Lloyds TSB's merger with the crisis-hit HBOS last autumn, is expected to say that he will remain at Lloyds for about a year, allowing a successor to be identified," the newspaper said.

A spokesman for the company declined to comment.

HBOS was taken over by rival LLoyds TSB in a government brokered deal in September to save it from collapse after a dramatic slump in its share price. (Reporting by Matt Falloon, editing by Tim Pearce)



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