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Head office of the Bank of Scotland at The Mound, Edinburgh. On 17 September 2008, the BBC reported that HBOS was in takeover talks with Lloyds TSB, in response to a precipitous drop in HBOS's share price. [23] The talks concluded successfully that evening with a proposal to create a banking giant which would hold a third of UK mortgages. [24]
The Lloyds TSB logotype, used 1995–2009 (group) and 1999–2013 (bank) The bank merged first with the newly demutualised Cheltenham & Gloucester Building Society (C&G), then with the TSB Group in 1995. [25] [26] The C&G acquisition gave Lloyds a large stake in the UK mortgage lending market. [27]
In 2009, following the UK bank rescue package, the Government of the United Kingdom took a 43.4% stake in Lloyds Banking Group, which later announced that it would sell a standalone retail banking business of 632 branches and most accounts held at those branches in order to comply with European Commission state aid requirements.
Lloyd's of London, generally known simply as Lloyd's, is an insurance and reinsurance market located in London, England.Unlike most of its competitors in the industry, it is not an insurance company; rather, Lloyd's is a corporate body governed by the Lloyd's Act 1871 and subsequent Acts of Parliament.
The first Lloyd's building (address 12 Leadenhall Street) had been built on this site in 1928 to the design of Sir Edwin Cooper. [5] In 1958, due to expansion of the market, a new building was constructed across the road at 51 Lime Street (now the site of the Willis Building). Lloyd's now occupied the Heysham Building and the Cooper Building.
A new head office was built at Trinity Road, Halifax, in 1973. [5] The distinctive diamond-shaped building was used on marketing material during the 1980s and 1990s. Underneath the building is a specially constructed deedstore which is used to store property deeds for a one-off charge of £10. It is computerised and could originally be filled ...
Its main headquarters were rebranded as Lloyds, and different sectors and work were moved to and from the site. It was announced in April 2024 that the former Birmingham Midshires head office would close and all remaining Lloyds Banking Group staff would relocate to the newly-refurbished Colmore Row office in Birmingham by the end of 2025.
The share price of Lloyds Banking Group plunged 32% on the London Stock Exchange, carrying other bank shares with it. [30] In September 2012, Peter Cummings, the head of HBOS corporate banking from 2006 to 2008, was fined £500,000 by the UK financial regulator over his role in the bank's collapse.