Lloyds names Bischoff as chairman

By Steve Slater

LONDON (Reuters) - Part-nationalised bank Lloyds (LLOY.L) named Win Bischoff, the former chairman of Citigroup (C.N), as its new chairman on Monday.

Bischoff, who had been the favourite to land the job, said he saw his role as executing the strategy already underway and ridding Lloyds of state help.

"You get the credibility and trust back from shareholders and customers by running a sound, good bank that doesn't have to have recourse to outside help," he told Reuters in an interview.

But he declined to say when he expected Lloyds, 43 percent owned by the government, to stand on its own.

He will start as chairman on September 15.

Current chairman Victor Blank said in May he would step down within a year, following criticism of Lloyds' takeover of troubled lender HBOS this year.

Lloyds Chief Executive Eric Daniels, who has come under fire for the HBOS deal, was the right man to lead the bank's strategy, Bischoff said.

"It's important you make sure the execution goes forward and from all I know Eric is the right person to supervise that execution," Bischoff said.