Suresh Balaji, former Chief Marketing Officer (CMO) for HSBC’s Asia-Pacific region and Global Head of Marketing and Communications at Standard Chartered (OTC:SCBFF) Bank, will assume the role of CMO at Lloyds Banking Group (LON:LLOY) from Monday. This move comes after Balaji relocated from Hong Kong to the UK.
Balaji will oversee the group-wide Brand, Marketing, and Experience function at Lloyds, a banking group with an adjusted market capitalization of $33,191.27M USD according to InvestingPro data. His responsibilities will include managing the Group's brand portfolio, strategizing marketing initiatives, fostering creativity, and tailoring customer experiences to enhance business growth. These tasks will be crucial in sustaining the revenue growth of Lloyds, which has accelerated to 14.99% as per the latest InvestingPro metrics.
With a career portfolio that includes roles at United Breweries, WPP (LON:WPP), and GSK, Balaji brings a wealth of experience to his new role. He has also served in various capacities during a 17-year stint with HSBC in Asia-Pacific and Standard Chartered Bank. His appointment comes at a time when Lloyds is trading at a low P/E ratio relative to near-term earnings growth, and at a low earnings multiple, as indicated by InvestingPro Tips.
Upon his appointment, Balaji expressed enthusiasm about contributing to Lloyds Banking (NYSE:LYG) Group's legacy of helping customers prosper and drive digital and data-led change. His dedication to driving digital transformation in financial services was lauded by Jayne Opperman, CEO of Consumer Relationships at Lloyds. Opperman praised Balaji's distinguished track record in financial services, highlighting his significant impact on the industry.
Lloyds has been profitable over the last twelve months and analysts predict the company will continue to be profitable this year, according to InvestingPro Tips. The bank has also raised its dividend for 3 consecutive years, which aligns with the InvestingPro data showing a dividend growth of 26.0%. For those interested in further insights, InvestingPro offers additional tips and real-time metrics about Lloyds and other companies.
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