Jon Pain, currently the Lloyds TSB General Insurance managing director, has been appointed as the new managing director of Cheltenham & Gloucester (C&G).
Mike Mitchell will be appointed acting managing director of Lloyds TSB's insurance business. Lloyds TSB said an announcement about his successor will be made shortly.
Pain will replace C&G's current managing director, Roger Burden, on 30 April 2003 when Burden will become non-executive chairman of the board of C&G.
