Sir Win Bischoff, Chairman of Citi Europe will serve as acting Chief Executive Officer.

FORBES: Another Wall Street Chief Falls

There are two aspects to the assessment by Lloyds' directors, led by the chairman, Sir Win Bischoff, of whether Mr Horta-Osorio should come back.

BBC: Lloyds' exhausted boss wants to return

But the elevations of John Thain (Bank of America-Merrill Lynch) and, above all, Sir Win Bischoff, chairman of Citigroup and a City grandee par excellence, epitomise the prevailing mood of prudence at the expense of risk.

ECONOMIST: Introducing the winners of 2009

Bischoff (or Sir Win, as the company calls him) was the chairman of Schroders, whose investment bank Citi acquired in 2000.

FORBES: Citi Is A Mess

Bischoff (or Sir Win, as the company calls him) was the chairman of Schroders (other-otc: SHNWF - news - people ), whose investment bank Citi acquired in 2000.

FORBES: Citi Is A Mess