Lloyds shuts Swip regional equity fund desks

It is remarkable how many financial journalists get the Edinburgh based Bank TSB name wrong, relying on the brand used Lloyds which TSB purchased and prefer as a result of the poor name of TSB. TSB owns Scottish Widows Clerical Medical, Hill Samuel, St Andrews Life ( ex Halifax ins co) etc., - all merged under the Scottish Widows brand to cover up their lack of performance poor investment returns, malpractice and lack of corporate governance. The failure of Scottish widows to look after clients money - or provide any stable or reliable returns - is a result of the cross subsidising available under With Profits funds and their opaque structure. For example my house was purchased using the with profits fund - a result of Scottish Widows taking me to the high court in Bristol - meant that Scottish Widows had to paid out significant losses - as a result of poor management lack of corporate governance - and the stupidity of the Directors and Chairman ( including Angela Knight of BBA more recently). Scottish Widows whilst mutual - did not make the losses directly, although the incompetant directors were responsible - the losses were taken from the policyholders who purchased Scottish Widows with pofits policies - and their fund paid for the losses - rather than the Directors. What is more insulting is that Mike DRoss - took a pension fund of some £ 4 M plus salary and bonuses for his part in the incompetance and insolvency of Scottish Widows - whilst selling of the Edinburgh company to Edinburgh based bank TSB - with the encouragement of the Scottish Government at the time eg Blair , Brown and Edinburgh MP Darling. So it is no wonder the insolvent Scottish Widows is up for sale and on the down and out lists

Don't suppose Toby Strauss (Lloyds Insurance Director) selling over a million shares a couple of weeks ago has anything to do with it?

http://www.scotsman.com/business/management/john-hourican-nets-4-7m-in-sale-of-rbs-share-options-1-2215356

A cynical shareholder might wish to check Toby Straus Bonuses and Pension contributions from ER - for reckless incompetancy in looking after shareholders interest. Like the sale of UK Gold reserves by Gordon Brown . . once its gone . . .its gone . . no reserves equals no value which means a hollow investment with little or no assets. The TSB lost the goodwill of their customers decades ago . .the brand Lloyds TSB has restricted the further loss of goodwill . . . but how many people do you speak to now who refuse to go into the LloydsTSB ( and other banks ) as a result of theri loss of TRUST in the bank ? Lack of service proposition for any reason other than Lloyds TSB ( and other banks ) business is " money lenders ", currently high street but soon to be removed to other streets or outlets - such as supermarkets. The result is the banks need all the information they can force out of people for their own sub standard services - of selling money.