Glen Moreno has bought his first shares in Lloyds Banking Group since he was appointed senior independent non-executive director of the company on 1 March.
He has bought 50,000 ADRs, which is the equivalent of 200,000 shares, at $3.69 each. That is equivalent to just over 61p a share, making the cost £122,120.
Moreno was briefly chairman of UK Financial Investments, which holds the government's shareholdings in banks. He stepped down because of links with a Liechtenstein bank that is allegedly involved in tax avoidance.
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The former investment banker is still chairman of Pearson, owner of the Investors Chronicle.
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Moreno will stand for election at the Lloyds AGM.
Chief executive Eric Daniels said that Lloyds should be profitable in 2010 at the time he announced a £6.3bn loss for 2009.
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