Lloyds Banking Group PLC
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Lloyds Banking Group Chairman Win Bischoff is to retire in the next year, handing the reins to a successor who must steer it through a potentially risky multi-billion pound government share sale.
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Lloyds Banking Group Chairman Win Bischoff is to retire in the next year, handing the reins to a successor who must steer it through a potentially risky multi-billion pound government share sale.
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LONDON, May 13- Lloyds Banking Group Plc Chairman Win Bischoff is to retire in the next year, handing the reins to a successor who must steer it through a potentially risky multi-billion pound government share sale.
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*Anthony Watson to lead search for replacement. LONDON, May 13- Lloyds Banking Group Plc said its chairman Win Bischoff would retire in the next year having overseen the rebuilding of Britain's biggest retail bank following a 2008 government rescue.
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*Anthony Watson to lead search for replacement. May 13- Lloyds Banking Group said on Monday its chairman Win Bischoff, who has overseen a major restructuring of the business since it was rescued by the government in 2008, will retire in the next year.
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May 13- Win Bischoff is stepping down as chairman of British state-backed Lloyds Banking Group, the Financial Times reported on Sunday, citing sources familiar with the plan, set to be announced ahead of Thursday's annual shareholder meeting.
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The head of the Co-operative Bank stepped down on Friday, after agency Moody's downgraded its debt ratings and said it might have to ask for money to bolster its capital.
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*Current CFO Van Saun to take helm at U.S. business Citizens. LONDON, May 9- Royal Bank of Scotland's chief executive Stephen Hester has moved two of his key lieutenants into new roles as he prepares for a sale of shares in its U.S. arm Citizens Financial Group.
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Now these same funds may be poised to descend on another landscape: struggling cities and counties- and no place beckons more than Detroit.
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By James Davey and Matt Scuffham LONDON, May 7- British grocer J Sainsbury. Although many Britons blame banks for the country's economic problems and lawmakers are keen to encourage greater competition, the' big 5'- Lloyds, RBS, Barclays, HSBC and Santander UK- control 83 percent of current accounts as customers have been reluctant to switch.
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LONDON, May 7- British mortgage lender Halifax, part of Lloyds Banking Group, will release its April house price index at 0700 GMT on Wednesday, May 8, the company said on Tuesday.
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LONDON, May 7- Jobs available in London's financial district jumped by almost one fifth in April as employers took heart from strong results at banks and some confidence returned after the Cypriot banking crisis, research showed on Tuesday.
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Investors cheered HSBC first quarter results on Tuesday, but analysts said the bank's profit-beat was misleading, and recommended RBS and Lloyds shares.
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**Germany's Hochtief AG has agreed to the 1.1 billion euros sale of its airports division, ending a lengthy quest for a buyer and giving fresh impetus to a strategy rethink led by its CEO appointed just six months ago.
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UK banks' use of funding from US prime money market funds has continued to decline in early 2013, consistent with their ongoing efforts to reduce reliance on wholesale funding, Fitch Ratings says. US MMF exposures to UK banks fell to 4.3% of assets under management at end-March, a 16% decline over the last nine months and a new low over our period of study.
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Cormac Leech, bank equity researcher at Liberum Capital, says HSBC's results are disappointing and advises switching to Lloyds and RBS.
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LONDON, May 7- J Sainsbury, Britain's third largest supermarket group, said on Tuesday it was in advanced negotiations with Lloyds Banking Group to take full ownership of the Sainsbury's Bank joint venture. The statement was prompted by media speculation over the weekend that Sainsbury's was on the verge of buying out Lloyds' 50 percent stake in the bank.
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LONDON, May 7- J Sainsbury, Britain's third largest supermarket group, said on Tuesday it was in advanced negotiations with Lloyds Banking Group to take full ownership of the Sainsbury's Bank joint venture.
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Construction group FCC is close to closing the sale of a 50 percent stake in its Latin American services subsidiary Proactiva to Veolia, online newspaper El Confidencial reports, citing financial sources. Pescanova will meet with administrators Deloitte and creditors on Monday to discuss the future of the company, Cinco Dias reports.
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Concerns that strict rules on bank capital levels would harm lending to the UK economy are greatly exaggerated, Britain's top banking regulator Andrew Bailey said. Mick Davis, the former boss of pre-merger mining giant Xstrata, has hired Goldman Sachs to raise money to set up a new resource giant. UK COAL'S FATE REST IN TAX MAN'S HANDS.
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LONDON, May 3- State-backed Royal Bank of Scotland on Friday pushed for the British government to start selling its 82 percent stake as early as next year even though it could mean a loss for taxpayers.