“Sean Gilchrist was speaking at the London CDO Summit. Lloyds Banking Group has made a £1 billion commitment to digital transformation, but as Sean Gilchrist, Managing Director for Commercial Digital notes, it’s a long road to travel.

“In 2014 David Mathison, who has tracked Chief Digital Officers since the turn of the decade and runs the CDO Club, reported salaries of CDOs in the US working outside of public sector and non-profits were ranging from $250,000 to a staggering $750,000.

“At the recent CDO Summit in London, there was the by now traditional awarding of the mantle of UK Chief Digital Officer of the Year. This year’s worthy recipient was Tanya Cordrey, Chief Digital Officer at Guardian News & Media.