Barclays wins, Lloyds loses from de-polarisation

Banks and insurance companies are seen as winners from the Financial Services Authority's decision to change the rules governing sales of funds and other products in the UK, but banking analysts see some companies doing better than others. LloydsTSB is seen as a non-winner from the situation, says Credit Lyonnais banking analyst Edward Firth, because it already has exposure to the fund industry through its ownership of Scottish Widdows. And that business has recently had to cut the bonuses on certain types of funds because of the two-year meltdown in equity prices. Others suc...