Former Lloyds boss and "city giant" Sir Brian Pitman dies at 78

Sir Brian joined Lloyds in happier days for the bank in 1952 and became chief executive of the group in 1983. He then led the group into its merger with TSB in 1995. He became chairman of the merged group in 1997 before finally retiring in 2001.

However he still kept active after his retirement, becoming Chairman of ITV from 2003 to 2004. He also became a senior adviser for Morgan Stanley International, he was then appointed to be an advisor to the Financial Services Authority last year. In January this year he was appointed chairman of Virgin Money Holdings UK.

In 1994 Sir Brian received a knighthood for services to banking.

Angela Knight, Chief Executive of the British Bankers Association, paid tribute to Sir Brian saying, “The British Bankers' Association is deeply sorry to note the death of Sir Brian Pitman. Sir Brian was President of the BBA from 1996 - 1997.

"Brian Pitman was a City giant. He was widely recognised for his knowledge and ability as well as his willingness to get involved. He was a man of many interests but always had time to listen and was generous with his time and experience. I knew him personally and, like many, will miss his vibrant presence."

Sir Brian leaves behind his wife and three children.

Lloyds TSB subsequently merged with HBOS in 2009 and needed a substantial bail out from the taxpayer in the midst of the financial crisis.