Lloyds Banking Group
Lloyds Banking Group is the renamed Lloyds TSB Group, following the acquisition of HBOS in January 2009. It claims to be the largest retail bank in the UK.
Contents
Financial crisis 2009
Lloyds TSB purchased distressed bank HBOS for £12bn in January 2009. The BBC reported in September 2008: "The deal was negotiated at the very highest level, with Prime Minister Gordon Brown telling Lloyds TSB chairman Sir Victor Blank that it would be helpful if Lloyds could end the uncertainty surrounding HBOS by buying it."[1]
The government was also forced to bail out Lloyds - it is 43 per cent government owned. The Group announced in February 2009 that it expected losses of nearly £11bn for 2008 at HBOS.[2]
Tax avoidance
In 2011 a report by Action Aid revealed that the UK's big found high street banks were by far the heaviest users of of tax havens - 1,649 tax haven subsidiaries between them and more than half of all their 3,067 overseas subsidiaries.
Lloyds has 97 companies in the Channel Islands of Jersey and Guernsey. [3]
People
- Sir Victor Blank, Chair
- Eric Daniels, CEO
- Lord Leitch, non-exec director
- Sir David Manning, non-exec director. Joined the board on 1 May 2008. Entered the Foreign and Commonwealth Office in 1972 and held senior appointments, including HM ambassador to Israel between 1995 and 1998, foreign policy adviser to the Prime Minister from 2001 to 2003 and HM ambassador to the USA from 2003 to 2007. A non-executive director of BG Group and Lockheed Martin UK Holdings.[4]
PR and lobbying
Internal
- Mark Lidiard, Group comms director. Joined in February 2008 from mining firm BHP Billiton.[5]
- Michael Oliver, Director of investor relations
- Leigh Calder & Amy Mankelow, Senior managers, media relations
External
2011-12
- Hanover Communications - from December 2011 [6]
- Cicero Consulting [7]
- College Public Policy[8]
- Burson Marsteller[9]
- Fleishman-Hillard in Brussels held the European public affairs brief from 2010, but this was reviewed in February 2012, with Lloyds asking four agencies to pitch in a procurement-led process, which included an online auction where cost would be a defining factor according to PR Week:
- The pitch comes at a time when the taxpayer-backed bank faces increasing pressure to cut costs. It reported losses of £3.5bn for 2011 on 25 February. It blamed the losses on compensating customers for mis-sold payment protection insurance and the upheavals in the eurozone. [10] Fleishman reportedly withdrew from the process.
2011
2008
- Citigate Dewe Rogerson Public Policy, public affairs account[12]
- Finsbury, conducts financial PR for Lloyds[13]
- Brunswick, advised HBOS on the takeover by Lloyds[14]
Contacts
London HQs: 25 Gresham Street, London EC2V 7HN; 33 Old Broad Street London EC2N 1HZ
http://www.lloydsbankinggroup.com
References
- ↑ Lloyds TSB seals £12bn HBOS deal, BBC, 17 September 2008
- ↑ BBC News, 16 February 2009
- ↑ Action Aid (2011), Addicted to tax havens: The secret life of the FTSE 100. p.2
- ↑ Lloyds website, accessed Feb 2009
- ↑ Banking industry Insider's Guide: UK banks' reputation managers, PR Week, 13 Oct 2008
- ↑ APPC Register Entry for 1 Dec 2011 to 29 Feb 2012
- ↑ APPC Register Entry for 1 Sep 2011 to 30 Nov 2011
- ↑ APPC Register Entry for 1 Sep 2011 to 30 Nov 2011, APPC Register Entry for 1 Dec 2011 to 29 Feb 2012
- ↑ APPC Register Entry for 1 Sep 2011 to 30 Nov 2011, APPC Register Entry for 1 Dec 2011 to 29 Feb 2012
- ↑ Sara Luker,Lloyds Banking Group reviews EU-level public affairs brief, prweek.com, Wednesday, 29 February 2012, accessed 7 June 2012
- ↑ APPC Register Entry for 1 Sep 2011 to 30 Nov 2011
- ↑ APPC register, to Nov 2008
- ↑ Banking industry Insider's Guide: UK banks' reputation managers, PR Week, 13 Oct 2008
- ↑ Banking industry Insider's Guide: UK banks' reputation managers, PR Week, 13 Oct 2008
