By Marcus Leach

Lloyds Banking Group (LON:LLOY) have confirmed that they will lose finance director Tim Tookey to insurer, Friends Life, in February.

Mr Tookey is the third high-profile member of the group to leave since chief executive Antonio Horta-Osorio arrived from Santander's UK operation earlier this year.

Lloyds, which is 41%-owned by the taxpayer, is looking for his successor.

"I am pleased to have played a part in defining the next stage of the strategy which I fully endorse as the right one to release the group's potential," he said in a statement.

Join us on
Follow @freshbusiness