Speculation has blossomed since last month’s Chelsea Flower Show that Sir Win Bischoff is to return to banking as chairman of Lloyds Banking Group, and City expectations of the appointment have barely withered following official protestations that no decision has yet been made.
The choice of a former senior banker at sprawling US financial services group Citigroup to run Lloyds, which now counts the UK Government as its biggest shareholder, may seem unusual at first glance.