City Watch: Question time - Peter Ellwood

NATALIE GRAHAM talks to Peter Ellwood, 56, group chief executive of Lloyds TSB since February l997. He joined TSB in l981 after more than 20 years with Barclays.

WHAT was your biggest break?

BEING given the opportunity at the age of 20 to run a machine room at Barclays Bank. This involved managing a group of 20 tough ladies who pounded out reams of paper on an accounting machine. This job taught me a lot about how to work with people.

WHAT are you most proud of?

The staff and the management of Lloyds TSB because many of them have had their lives disrupted by the merger. They have done a brilliant job pulling Lloyds and TSB together.

What's your advice for entrepreneurs?

Be very clear in your objectives, as management is about having clear goals. Be creative and curious. Recognise the contribution of others and understand that there is always more to learn. You need to have a sense of humility. More importantly, always act with honesty and integrity.

HOW do you like to relax outside work?

I PLAY the violin. I enjoy gardening, walking and reading.

WHERE do you like to go on holiday?

WE have had some wonderful family holidays in Italy. Last summer l7 of us had a house party in Umbria. My wife and I also went to Peru in November, which was fascinating.

WHERE do you like to eat out?

I ENJOY going to good local Italian restaurants - in Northamptonshire at weekends and around Marylebone High Street during the week.

HOW do you get to work?

ON Mondays and Fridays I come in by train and tube. In midweek I come to work by car.

WHAT is the hardest thing you've had to do in your career?

GETTING rid of people. It is never anything but painful.

HOW much is Lloyds TSB worth?

THE total market value is pounds 45 billion - that's three times the combined value of the separate companies just before the merger in December l995.

WHAT'S your favourite film?

MRS Brown, which starred Dame Judi Dench. Your favourite TV programme? Grand Prix racing.

WHAT do you like to drink?

Red wine.

WHAT car do you drive?

A BMW 7 series.

YOUR best day?

WHEN I got married to Judy, over 30 years ago.

YOUR idea of a great time?

TO be at home in Northamptonshire with my wife, our three grown- up children and our friends.

Copyright 1999 MGN LTD
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