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Antonio Horta-Osorio has been UK chief executive of Santander since August 2006
</div> Lloyds Banking Group says its new chief executive will be Santander UK's current boss, Antonio Horta-Osorio.
He will replace the outgoing chief executive of Lloyds, Eric Daniels, who is retiring.
Lloyds, 41% owned by the UK government, is Europe's fourth-largest bank by market value.
Earlier this week, the bank said it was on target to deliver a "good financial performance" for 2010 and was continuing to cut costs.
Mr Horta-Osorio has been UK chief executive at the Spanish banking group Santander since August 2006.
He oversaw the group's recent rapid expansion in the UK as it bought Bradford & Bingley's savings business and Alliance & Leicester.
Lloyds returned to profit during the first half of the year.
This article is from the BBC News website. © British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.
Antonio Horta-Osorio has been UK chief executive of Santander since August 2006 </div> Lloyds Banking Group says its new chief executive will be Santander UK's current boss, Antonio Horta-Osorio.
He will replace the outgoing chief executive of Lloyds, Eric Daniels, who is retiring.
Lloyds, 41% owned by the UK government, is Europe's fourth-largest bank by market value.
Earlier this week, the bank said it was on target to deliver a "good financial performance" for 2010 and was continuing to cut costs.
Mr Horta-Osorio has been UK chief executive at the Spanish banking group Santander since August 2006.
He oversaw the group's recent rapid expansion in the UK as it bought Bradford & Bingley's savings business and Alliance & Leicester.
Lloyds returned to profit during the first half of the year.
This article is from the BBC News website. © British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.