Days after making a commitment to its branch network and promising to keep the same number of branches for the next three years, Lloyds Banking Group says it is to make around 1,000 staff redundant, adding to the 28,000 job losses since the Lloyds TSB / HBOS merger, in 2008. According to trade union, Unite, [...]
Lloyds Banking Group has committed to keeping the same number of branches in its network for the next three years. The part state-owned bank has also pledge not to close a branch if it is the last one in a particular community. Commenting on the announcements, group chief executive, António Horta-Osório, says: “We want to [...]
Lloyds Banking Group has announced changes in its senior management structure as follows: Truett Tate, group executive director for wholesale, will retire this month. The sixty-one-year-old joined the group in 2003 as managing director, corporate banking, before being appointed to the Board in 2004. Andrew Gézcy, managing director of wholesale banking and markets, will report [...]
UKFI, which oversees the taxpayer’s interest in the UK’s rescued banks, has announced that Sir David Cooksey is retiring as chairman. Chief executive, Robin Budenberg, who joined UKFI in 2010 from UBS, will become chairman in his place. Jim O’Neil, who is currently responsible for UKFI’s investments in Lloyds and RBS, will become chief executive. [...]
Lloyds Banking Group will see the return of its group chief executive officer in January. Last month, António Horta-Osório had to take leave of absence on medical grounds but Lloyds’ board has since completed a rigorous process, including obtaining independent medical advice, to assess his ability to return and effectively lead the group. Mr Horta-Osório [...]
Lloyds Banking Group has named Co-operative Group as its preferred bidder for the 632 branches that it needs to sell under EC competition rules. The bank says it will now progress more detailed exclusive discussions with the Co-op, with the aim of agreeing heads of terms by the end of March 2012. At this stage, [...]
Lloyds Banking Group has committed to lending at least £12 billion to help Britain’s small and medium-sized businesses in 2012. In addition, the group’s SME Charter now includes a pledge to invest £20 million in community finance projects. The bank’s group director, commercial, John Maltby, comments: “Times have been tough for Britain’s small firms … [...]
Lloyds Banking Group has confirmed that it is in discussion with insurer RSA’s current finance director, George Culmer, regarding the post of group finance director at the bank. Mr Culmer would replace Tim Tookey, who is leaving Lloyds at the end of February to join Friends Life. Mr Tookey is presently interim group chief executive [...]
Following the news earlier this month that António Horta-Osório has taken leave of absence on medical advice, Lloyds Banking Group has announced that David Roberts will become interim group chief executive officer if Mr Horta-Osório ends up being away for more than a few weeks. The post is currently filled by group finance officer, Tim [...]
Lloyds Banking Group, RBS, UK Cards Association, Mastercard and Visa are among 26 groups to have signed up to “midata”, a government initiative that should usher in a new era of consumer empowerment. The voluntary scheme aims to give consumers increasing access to their personal data in a portable, electronic format. Businesses, consumer bodies and [...]
Lloyds Banking Group has appointed group finance officer, Tim Tookey, as interim group chief executive. The news follows an announcement earlier today that group chief executive, António Horta-Osório, is taking temporary leave of absence on medical advice. Mr Horta-Osório is expected to return to his post before the end of the year, which is just [...]
Lloyds Banking Group chief executive, António Horta-Osório, is to take leave of absence on health grounds for six to eight weeks, the BBC has reported. Mr António Horta-Osório joined the part-nationalised lender in February, from Santander, and swiftly implemented the group’s Project Verde divestment programme. There followed a boardroom clear out that included the resignations [...]
Since the start of the year, the number of Britons feeling financially insecure has increased across all regions, according to the latest Spending Power report from Lloyds TSB. The North East and West Midlands are worst afflicted with 58% of the population now pessimistic about the state of their finances, but things are hardly any [...]
Moody’s has today downgraded the senior debt and deposit ratings of 12 UK financial institutions and confirmed the ratings of one. The firm says its has reassessed the support environment in the UK in the light of “announcements made” and actions already taken, which have “significantly reduced the predictability of state support over the medium [...]
Halifax has surprised the savings market with the launch of the Halifax Savers Prize Draw. The scheme offers the chance of monthly cash prizes of £100 up to £100,000 to those with balances of £5,000 or more across a range of accounts offered by bank. The inaugural prize draw will take place in December, when [...]
Lloyds Banking Group has announced two resignations. Lord Leitch is retiring from the board and as chairman of Scottish Widows at the end of this year but will remain an adviser to the board for 2012, on both its insurance and Scottish activities. In addition, Tim Tookey has decided to leave the group to pursue [...]
The Halifax brand shows signs of emerging from a difficult phase as Lloyds Banking Group launches a colleague-based advertising campaign with the tag “Halifax ‘the people who give you extra’”. The Halifax Community Choir made an appearance on yesterday’s X Factor talent show as the lender attempts to build on its past strengths and move [...]
