In a significant leadership transition poised to shape the future of support for the UK’s vibrant small and medium-sized business sector, Lloyds Banking Group has announced the appointment of seasoned HSBC executive Amanda Murphy as the next Chief Executive Officer for its Business and Commercial Banking (BCB) division. This strategic move signals a new era for the division, which is a cornerstone of the UK economy, providing critical financial services to a vast range of enterprises from micro-startups to established medium-sized companies. Murphy is scheduled to assume her new responsibilities in February 2026, pending the necessary regulatory clearances. Her appointment comes as the current CEO, Elyn Corfield, prepares to step down from her role. The transition is a pivotal moment for Lloyds, as it seeks to continue navigating a complex economic environment while reinforcing its commitment to fostering business growth and resilience across the nation under fresh leadership.
A Strategic Move with Global Expertise
Amanda Murphy’s appointment brings a wealth of deep, international banking experience to Lloyds, promising a global perspective tailored to the needs of UK businesses. Her most recent position at HSBC, where she served as the co-head of Asia commercial banking and head of commercial banking for South and Southeast Asia while based in Singapore, equipped her with invaluable insights into rapidly evolving global markets. However, her expertise is also firmly rooted in the domestic landscape. Prior to her international role, Murphy held a series of progressively senior positions within HSBC’s UK commercial banking operations between 2013 and 2021, culminating in her leadership as head of UK commercial banking. This dual background, blending extensive on-the-ground knowledge of the UK market with a comprehensive understanding of international trade and finance, makes her uniquely qualified to lead a division dedicated to supporting businesses that operate both locally and on the world stage. Her leadership is anticipated to enhance Lloyds’ ability to serve its diverse client base effectively.
A Legacy of Transformation and Future Outlook
The leadership transition marked the conclusion of Elyn Corfield’s impactful, nearly nine-year tenure with Lloyds Banking Group, during which she spearheaded a significant transformation of the BCB division. Lloyds Banking Group CEO Charlie Nunn commended Corfield for an “extraordinary career,” acknowledging her pivotal role in reshaping the division to better meet the evolving needs of its clients. Her leadership was not confined to internal strategy; she was also a passionate advocate for broader UK business challenges. Corfield’s dedication to regional regeneration and her commitment to fostering diverse entrepreneurship, notably through her support for initiatives like the Black in Business program, left a lasting mark on the industry. Before her departure to take a period of family time, Corfield described her time supporting UK businesses as a “true honor” and endorsed her successor, calling Murphy an “outstanding leader” poised to guide the division into its next chapter. Her departure finalized a period of foundational change that positioned the bank for future growth and continued client-centric innovation.
