He leaves his role after new boss of retail and products, Antonio Lorenzo, (formerly Santander) created a new managing director of products with responsibility for all of the product areas including mortgages.
Vim Maru, formerly director of retail products at Santander UK, has taken on this role. There will also be a new director of intermediaries who has not yet been appointed.
Walsh will step down as chairman of the Council of Mortgage Lenders, with the position most likely to a deputy. Maru was a deputy until he stepped down from Santander earlier this year, leaving Martijn van der Heijden, head of mortgages at HSBC, as the only incumbent deputy.
Lloyds said: “Intermediary sales are a key distribution channel for the group, and for this reason we need greater focus on this area.
“The intermediaries business will span across the retail business - including mortgages and also wealth and is aimed at deepening the group's relationships with intermediaries and ensuring that we interact with them in a consistent way.
“At the same time, Colin Walsh, has decided that it is the right time for him to leave the group. He has agreed to stay with us for the next few months to support the transition to the new business model and the establishment and strategy development of the Intermediary business.”
Walsh will be overseeing an “orderly transition for all of his responsibilities” including his role as CML chairman.
