Lloyds Banking Group has announced the appointment of Will Samuel as the chairman of TSB Bank plc. He will join the TSB Bank Board immediately.

Samuel is currently chairman at the Ecclesiastical Insurance Group Plc and chairman of Howden Joinery Group plc. Previously he was a director of Schroders plc, a vice chairman of Investment Banking at Citigroup Europe, a senior adviser at Lazard & Co Ltd and a senior adviser to the Prudential Regulatory Authority.

Lloyds Banking Group chairman Sir Winfried Bischoff said: “This is a great appointment for Lloyds and for TSB. Will brings a wealth of experience to the role and is well-regarded by the market and across the financial services industry.

“He is a key hire and will be instrumental in building TSB’s independent future as a challenger to the other high street banks.”

Samuel said: “I am delighted to be appointed as chairman of TSB. The bank has an exciting future ahead as we move to independence and establish ourselves as the home of local banking.”