in what will likely be only the first of many ,Lloyds Chairman announces plans to step down prior to next Annual Meeting in 2010.  The larger issue here is the dual influence from markets, chastising Blank for the HBOS takeover, and government influences.

Both in UK and US, the influence of government is significant within large Banks, and as discussed earlier, the arrival of the political dimension is inevitable.

Blank will step down from Lloyds | FT

LONDON, May 17 (Reuters) – Victor Blank is to step down as chairman of Lloyds Banking Group (LLOY.L) before next year’s annual shareholder meeting, the part-nationalised British bank said on Sunday.