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Lloyds' new boss is filmed oiling bike chain as bank plays up his normal image

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Charlie Nunn
Charlie Nunn

The new boss of Lloyds kicked off his first day in the job with a video of himself undertaking a series of everyday activities, such as oiling his bike and going for a jog.

Former HSBC banker Charlie Nunn, who will be paid up to £5.5m a year, has taken on one of the highest-profile jobs in British business after Lloyds' former chief Antonio Horta-Osorio left for Credit Suisse.

The competitive road cyclist introduced himself in a film taken in his home. Wearing jeans and holding a cup of tea, he discusses his hobbies while clips of him oiling his bike and going for a run in the suburbs are played out.

Mr Nunn, who also worked for McKinsey prior to HSBC, said in a letter to go alongside the video that taking on the job was a "no-brainer" and he is now "picking up the baton" from his predecessor, whose tenure at the bank returned it to private ownership following a £20bn taxpayer bailout during the financial crisis.

Lloyds became the first British lender to repay its bailout, doing so in 2017 following one of the largest rescues during the 2008 crash.

Mr Nunn was in charge of around $1.4 trillion worth of assets while at HSBC, taking control of a new division after the bank merged its money-spinning wealth and personal banking arms.

Instead of focusing on wealthy international clients, he will now be dealing with the aftermath of the Covid pandemic at Britain's biggest high street bank. He gave no indication of his plans for Lloyds on Monday, telling staff he would spend the coming months getting to know employees and customers.

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