Lloyds to boost Halifax brand
LLOYDS Banking Group has set out plans to revitalise the Halifax brand as part of a wider overhaul of the business which will see 15,000 jobs cut.
The company said it would make Halifax the “leading challenger brand in UK retail banking” with a campaign to attract new customers set to be launched in September.
Halifax was part of the HBOS group until the company was bought by Lloyds TSB in 2008 at the height of the financial crisis.
Lloyds this morning announced the results of a major strategic review following the arrival of new chief executive Antonio Horta-Osorio in March.
The confirmation of the loss of 15,000 jobs on top of the 27,500 already cut came as the company said it would be looking to make £1.5bn in annual savings by 2014.
Lloyds said the savings would allow it to invest £2bn in a range of areas over the next three years including broadening the offer of its commercial banking arm.
It also said it expected to identify a purchaser for the 600 branches it is being compelled to sell by the European Union by the end of the year.
Yorkshire Bank parent company National Australia Bank has been linked with a bid for the branches.
