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23/09/2008
Salmond To Press Over Lloyds HBOS
A specially convened summit of Scottish politicians and business leaders, who earlier agreed a "national statement of concern" about the takeover of the Scottish-based banking group, HBOS, are now to be joined by First Minister Alex Salmond (pictured) in a meeting with executives from Lloyds TSB to discuss the bank's planned takeover.
Lloyds TSB announced last week it had agreed a £12.2bn takeover after shares in Edinburgh-based HBOS plummeted.
Mr Salmond will hold talks with a delegation likely to be led by Archie Kane, a Lloyds TSB Board Member and the Chief Executive of Scottish Widows to press for the headquarters of the new bank to be in Scotland.
HBOS was formed in 2001 from a merger between the Halifax and Scotland's oldest bank, The Bank of Scotland.
The Lloyds move has raised fears that jobs will be lost and the 300-year-old Scottish institution's heritage will be eroded.
However, Lloyds has already said the "management focus" was to keep jobs in Scotland and that the existing premises at the 'Mound' would remain as the Scottish headquarters and Bank of Scotland notes would continue to be printed.
But, the First Minister pledged to "press substantially" to retain the status of the Scottish financial sector when he announced the meeting.
Lloyds TSB Chairman Sir Victor Blank will not be at the meeting though, but Mr Salmond insisted Mr Kane was the right man to discuss HBOS's future.
At Monday's summit, politicians and business leaders had united in a bid to make sure Scotland gets the "best possible deal" in the wake of the proposed takeover.
(BmcC)
Lloyds TSB announced last week it had agreed a £12.2bn takeover after shares in Edinburgh-based HBOS plummeted.
Mr Salmond will hold talks with a delegation likely to be led by Archie Kane, a Lloyds TSB Board Member and the Chief Executive of Scottish Widows to press for the headquarters of the new bank to be in Scotland.
HBOS was formed in 2001 from a merger between the Halifax and Scotland's oldest bank, The Bank of Scotland.
The Lloyds move has raised fears that jobs will be lost and the 300-year-old Scottish institution's heritage will be eroded.
However, Lloyds has already said the "management focus" was to keep jobs in Scotland and that the existing premises at the 'Mound' would remain as the Scottish headquarters and Bank of Scotland notes would continue to be printed.
But, the First Minister pledged to "press substantially" to retain the status of the Scottish financial sector when he announced the meeting.
Lloyds TSB Chairman Sir Victor Blank will not be at the meeting though, but Mr Salmond insisted Mr Kane was the right man to discuss HBOS's future.
At Monday's summit, politicians and business leaders had united in a bid to make sure Scotland gets the "best possible deal" in the wake of the proposed takeover.
(BmcC)
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