FD to quit RSA for Lloyds Banking

General insurance group RSA is on the look-out for a new chief financial officer after the current incumbent, George Culmer, announced his intention to jump ship to Lloyds Banking Group.

Culmer, who has a 12-month notice period, and RSA are still wrangling over an exact leaving date.

"I would like to thank George for his significant contribution to RSA over the last eight years and for his continuing involvement to ensure a smooth transition to his successor," said Simon Lee, Chief Executive of RSA.

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Culmer described the role at part-nationalised lender Lloyds as one he could not turn down, a declaration that may come as a relief to Lloyds on the day that Nathan Bostock, who had been scheduled to take charge next year of Lloyds' wholesale banking division, decided to stay in his present role at Royal Bank of Scotlandas head of restructuring and risk.

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