The international businesses of Lloyds TSB and HBOS could be less impacted than the onshore brands by the planned £12bn takeover of troubled mortgage giant HBOS by the UK's fourth-largest bank.
While duplication is rife in the two groups’ UK bank branch networks, which include Halifax, Lloyds and Bank of Scotland; insurance and pensions through Lloyds TSB’s Scottish Widows and HBOS’s Clerical Medical; and fund management through Scottish Widows Investment Partnership and HBOS’s Insight Investment, the international picture is more mixed. On the banking side, both Lloyds TSB Offshore and Bank of Scotland International operate from Jersey, offering international banking and mortgages as well as private banking. However, Bank of Scotland International also has a base in the Isle of...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
