Merger of Lloyds TSB & HBOS will require some serious team development

A new superbank

Back in September, Lloyds TSB announced it planned to take over HBOS. Since then the merger has been approved and looks set to complete next month, creating the UK’s first “superbank”.

Lloyds TSB was was created when the Lloyds Bank and the Trustee Savings Bank (TSB) agreed to merge their operations creating what was, at the time, the second largest bank in the UK. LLoyds TSB currently operates Cheltenham & Gloucester, Scottish Widows, Insurance.co.uk and Intelligent Finance. HBOS, for its part, was created as a result of a merger between Halifax plc and the Bank of Scotland. HBOS operates Halifax, Bank of Scotland, Birmingham Midshires and The AA.

The merger will therefore create a banking giant with around 145,000 staff and 3,000 branches across the UK.  Read the rest of this entry »