HBOS

AT8's Mark Loosmore looks at the consolidation of Scottish Widows' and Clerical Medical's product ranges following their merger last year.

Lloyds shareholders have made a £14bn claim against the Treasury and bosses at the banking giant over its controversial takeover of HBOS in 2008.

Paul McNamara, managing director of group strategy and corporate finance at Standard Life, has left the company.

Clerical Medical's managing director, John van Der Wielen, is to step down as part of a high-level reshuffle at Lloyds Banking Group.

An FSA investigation into the problems at Britain's failed banks has revealed a litany of internal breakdowns and flawed controls that masked the full extent of their failings, according to The Sunday Times.

A fresh round of job cuts in Lloyds Banking Group today has brought the number of losses since its takeover of HBOS last year to over 15,000.

The Bank of England gave secret, emergency loans worth over £60bn to RBS and HBOS during last year's financial crisis.

Bank of England governor, Mervyn King, says RBS and HBOS were within hours of a liquidity shortfall on 6 October 2008, and the day after, as the country's financial system came to the brink of collapse.

Lloyds Banking Group has dismissed as "rumour" reports it may sell part of its fund management business in a bid to raise cash following its bailout by the UK Government.

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