Lloyds Banking Group CEO to take medical leave (AP)

LONDON ? Part-nationalized Lloyds Banking Group PLC says that its chief executive is taking a temporary leave of absence due to illness.

The bank announced Wednesday that Antonio Horta-Osorio is expected to be back at work by the end of the year.

The Press Association news agency and the Financial Times quoted unidentified sources as saying Horta-Osorio was suffering from stress.

The 47-year-old Horta-Osorio, a former executive at Spanish bank Santander, only stepped into the top job at Lloyds in March.

Lloyds said interim arrangements for management were to be discussed at a board meeting Wednesday morning.

Lloyds share price was down 1.4 percent in early trading in London.

Source: http://us.rd.yahoo.com/dailynews/rss/europe/*http%3A//news.yahoo.com/s/ap/20111102/ap_on_bi_ge/eu_britain_lloyds_banking_group

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