Lloyds Banking Group
Lloyds Banking Group plc is a major British financial institution, formed through the acquisition of HBOS by Lloyds TSB in 2009. As of March 2012, HM Treasury held a 40% shareholding through UK Financial Investments Limited. The Group headquarters is located at 25 Gresham Street in the City of London, with its registered office on The Mound in Edinburgh. Lloyds Banking Group's activities are organised into Retail Banking (including Mortgages), Wholesale, Life, Pensions & Insurance, and Wealth & International. Lloyds' extensive operations include the US, Europe, Middle East and Asia. It traces its origins to Lloyds Bank, founded in 1765 and the fourth oldest bank in the United Kingdom.
Following the takeover, the HBOS name ceased to be used publicly. The Halifax brand, products and pricing was discontinued in Scotland, where only the Bank of Scotland brand remains of the former HBOS businesses. This resulted in a number of Halifax customers transferring to Bank of Scotland. The Halifax and Lloyds Bank brands are used in England and Wales, each offering different products and pricing. In his first interview as Lloyds Banking Group's CEO António Horta-Osório told The Banker, "We will keep the different brands because the customers are very different in terms of attitude".
Lloyds Banking Group is listed on the London Stock Exchange (LSE) and is a constituent of the FTSE 100 Index. It had a market capitalisation of approximately £18.9 billion as of 6 June 2012, the 23rd-largest of any LSE company. It has a secondary listing on the New York Stock Exchange, where it has a market capitalisation value of $34.45bn.
Read more about Lloyds Banking Group: Board of Directors, Formation and Divestment of Verde, Sponsorships, Awards and Recognition
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