Lord Davies turns down Lloyds chairman role-report
LONDON, June 28 (Reuters) - Lord Davies, former chief of Standard Chartered (STAN.L: Quote, Profile, Research) and Britain's trade minister, has been offered the chairmanship of Lloyds Banking Group (LLOY.L: Quote, Profile, Research) but will turn the job down, the Independent on Sunday reported.
The newspaper said John Kingman, head of UK Financial Investments (UKFI), the body which owns the government's 43 per cent stake in Lloyds, has been assiduously courting Lord Davies over the past few weeks.
No one at Lloyds was immediately available for comment.
Lord Davies, who joined Lord Mandelson's team at the Department for Business in January, is enjoying his role too much to want to switch back to commercial life, the report said. (Reporting by Matt Scuffham; Editing by Jon Loades-Carter)
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