Lloyds Banking Group hires renowned global CMO to revolutionize its marketing strategy

Lloyds Banking Group has announced the appointment of Suresh Balaji as their new CMO, starting from 16 October. Balaji brings valuable experience from his previous role as the global head of marketing and communications at Standard Chartered Bank in Hong Kong, and his time as CMO for HSBC in the Asia-Pacific regions.

In his new role, Balaji will be responsible for driving the growth of Lloyds Bank, Halifax, and Bank of Scotland brands, while also focusing on improving the overall customer experience.

Lloyds' interim CMO Simon Watts, who has been with the company since 2009, has been holding the position since February this year. He was selected for the temporary role after the departure of Catherine Kehoe, the former chief customer officer at Lloyds, who joined Nationwide at the beginning of 2023 as the chief marketing and corporate affairs officer. Balaji referred to his appointment as a remarkable opportunity.

Lloyds Banking Group has assisted millions of customers in prospering throughout its history. Now is an opportune moment to join and contribute to the growth of our brands, develop exceptional experiences, and showcase creativity for the diverse range of customers we support.

According to YouGov’s BrandIndex, Lloyds currently holds a score of 8.9 for consumer perceptions of banking and building societies' brand health. To provide context, Barclays has a score of 7.1, NatWest at 7.5, and Nationwide boasts the highest score of 20.

Jayne Opperman, CEO of Consumer Relationships at Lloyds Banking Group, expressed her pleasure in welcoming Suresh to the organization. With his impressive background in financial services and expertise in marketing, Suresh's passion for driving digital and data-led change will greatly benefit our customers. We believe he will be a valuable addition to our team.

In February 2022, Lloyds announced a £3bn investment aimed at diversifying its revenue. The goal of this investment is to enhance customer relationships by simplifying and personalizing our channels. Balanji has now taken on the challenge of leading this initiative.