Laurel Powers-Freeling will take over as chief executive of Marks and Spencer's financial services business from November 6. She replaces Dave Towell, who is retiring, and takes over board responsibility for financial services from former finance director Robert Colville, who is also retiring next year. Powers-Freeling joins from Lloyds TSB where she was md for wealth management. She joined Lloyds in 1994. She has also worked for McKinsey, Morgan Stanley and Prudential. Chairman and chief executive Luc Vandevelde said: "I am delighted to welcome Laurel to the board Her successful track record in developing financial services and retail banking will be a huge asset to us as we shape our plans for the development of our financial services business." {{PEOPLE MOVES }}