Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Lloyds domiciles TSB in England ahead of Scottish vote

1 comment
Lloyds domiciles TSB in England ahead of Scottish vote

Lloyds Banking Group is to relocate TSB Bank to England from Scotland, ahead of the new bank's planned £1.5 billion float.

Ahead of a £1.5 billion TSB float, Lloyds has announced it will domicile the new bank in England. Currently both TSB Bank and Lloyds Banking Group are incorporated in Scotland.

TSB is to float in the first half of this year with a valuation between £1.5 billion and £2 billion. Lloyds Banking Group is set to sell down a stake of between 30% and 50%.

The announcement comes amid warnings over a Scottish Yes vote on independence.

Chancellor George Osborne ruled out an independent Scotland sharing the pound with the UK after Bank of England governor Mark Carney said any currently union would require Scotland to share a degree of sovereignty.

Trade body Scottish Financial Enterprise said Scottish fund managers would have to pay millions for a new regulator if independence from the UK goes ahead.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Volatility is back, Europe's future & Ethical's key moment

Volatility is back, Europe's future & Ethical's key moment

This week’s episode of Investment Pulse takes a look at European prospects, FTSE volatility and whether public pressure is about to provide a push for ethical investment

Play Volatility spike: How ETFs can soften the blow

Volatility spike: How ETFs can soften the blow

ETFGI’s Deborah Fuhr discusses the role of ETFs in client portfolios during volatile market conditions

Play Winter market warmers, the post QE world and timing the Fed

Winter market warmers, the post QE world and timing the Fed

This week’s episode of Investment Pulse looks at the winding down of quantitative easing, whether to try and time a US Federal Reserve rate rise and if strong seasonal performers can reverse recent market slumps

Wealth Manager on Twitter