Lloyds Banking Group (LBG) has hired AJ Bell’s Managing Director of D2C and Investments Kevin Doran to take up the newly-created role of chief investment officer for Scottish Widows and LBG’s insurance, pensions and investments business.

Chira Barua, CEO of Scottish Widows and CEO Insurance, Pensions and Investments at Lloyds Banking Group, said: “Creating a new chief investment officer role is about bringing more focus to our investment strategy and evolving how we help our customers make their money work harder.

“We have been putting lots of energy into bringing more choice for consumers – including Ready-Made Investments and the Exchange-Traded Funds Quicklist – and Kevin’s experience of delivering disruptive D2C investment capability will help us keep momentum as we continue to innovate.”

Doran said: “After six years of working with my friends at AJ Bell, it’s exciting to be joining Lloyds at a time where the ambitions for investments are being raised under Chira and the team.

“Providing services and support for 26 million customers and the opportunity to help Britain prosper as we develop the investment offering is immense and one I’m really looking forward to.”

AJ Bell CEO Michael Summersgill said: “Following the year end Kevin Doran, Managing Director of D2C and Investments, informed the business of his decision to leave. He will therefore be departing AJ Bell in the new year.

“Kevin has helped us to build a terrific investment business and I would particularly like to thank him for his work in this part of the business.

“I am pleased to announce that Charlie Musson, our Chief Communications Officer, has taken over as Acting Managing Director D2C. Having worked with Charlie for many years, I look forward to working with him in his new role as we continue to drive our D2C platform propositions forward.”