Wealth Manager - the site for professional investment managers

Register to get unlimited access to 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 On the Road Challenge: Clay pigeon shooting with Thesis' Lansdowne

On the Road Challenge: Clay pigeon shooting with Thesis' Lansdowne

Eleanor Mahmoud goes clay shooting at the National Clay Shooting Centre with Sam Lansdowne from Thesis Asset Management

Play AA-rated Flood on gov't bonds: 'the maths doesn't add up'

AA-rated Flood on gov't bonds: 'the maths doesn't add up'

He also addresses why his Newton Multi-Asset Income fund has such a high cash weighting and why he sees renewables as such a good opportunity.

Play AAA-rated Ali: Identifying the peripheral European plays

AAA-rated Ali: Identifying the peripheral European plays

Citywire AAA-rated Tawhid Ali thinks that plenty of good stocks in the European periphery are being thrown out with the proverbial bath water.

Read More
Your Business: Cover Star Club

Profile: Brewin's Cardiff boss on the Welsh opportunity

Profile: Brewin's Cardiff boss on the Welsh opportunity

Prior to becoming head of Brewin Dolphin Cardiff, Welshman David Myrddin-Evans had only previously visited the city to watch the rugby.

Wealth Manager on Twitter