Lloyds Banking Group has tapped Morgan Stanley investment banker William Chalmers to be its next chief financial officer.
Mr Chalmers is currently co-head of Morgan Stanley's global financial institutions group, having joined the US bank in 2000.
Prior to joining Morgan Stanley, he spent six years at JP Morgan, where he became managing director in 2003.
Mr Chalmers will join Lloyds in June following the retirement of incumbent George Culmer.
The high street lender will pay Mr Chalmers about £4.4 million in deferred cash to replace awards he will lose when he leaves Morgan Stanley.
He will also receive a basic salary of £794,938 and receive a fixed share award of £504,000, delivered over five years.
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Oil giant Royal Dutch Shell is to take full ownership of Sonnen, a maker of rechargeable energy batteries, as part of its strategy to ramp up its clean energy offering.
Shell will buy 100 per cent of the German start-up having first invested in Sonnen last May.
Financial details of the deal were not disclosed.
Mark Gainsborough, executive vice president of new energies at Shell, said: "Full ownership of Sonnen will allow us to offer more choice to customers seeking reliable, affordable and cleaner energy.
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"Together, we can accelerate the building of a customer-focused energy system in support of Shell's strategy to offer more and cleaner energy solutions to customers."
Brexit uncertainty is making it difficult for Millennium and Copthorne Hotels to recruit EU staff.
The claim comes as the firm reported a 28 per cent fall in pre-tax profit to £106 million as revenue slipped 1.1% to £997m.
The increase in minimum wage, competition from the likes of Airbnb and the US-China trade dispute were also adding to the hotel operator's concerns.
Revenue per available room declined 1.5% to £81.57.
The company said: "Concerns about Brexit have affected the group's UK hotels especially in London, where the hotels started to face difficulties in recruiting EU workers."
EU workers account for more than half of the company's workforce in the capital.
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