Shares in British banks up on FTSE 100 after Lloyds CEO announces resignation

Shares in British banks were up on the FTSE 100 in morning trading following news yesterday the Eric Daniels will be standing down as CEO of Lloyds Banking Group.

Mr Daniels said he would be standing down in a year in order to give Lloyds plenty of time to search for a successor.

His resignation makes him the third senior banker to quit this year after John Varley, CEO of Barclays, and Stephen Green, Chairman of HSBC, recently announced that they would be leaving their posts.

By 09:40 shares in Lloyds Banking Group were up 1.65 per cent to 78.69 pence per share, RBS shares increased 1.22 per cent to 49.62 pence per share, Barclays shares rose 1.44 per cent to 317.85 pence per share and HSBC shares climbed 0.15 per cent to 680.60 pence per share.

Overall the FTSE 100 was up 0.44 per cent to 5,627.26.