Press Association in Lloyds TSB deal
THE Press Association, the UK’s multimedia news and information provider, based in London and Howden, has secured a multi-million pound funding package from Lloyds TSB Corporate Markets following the decision to move its banking arrangements.
The funding package was put together by Lloyds TSB Corporate Markets in Leeds, headed up by relationship director Richard Townsend and business development director Jamie Allison.
Founded in 1868, the Press Association, owned by PA Group, supplies everything from breaking news and showbiz interviews to real-time sports results and the weather forecast to UK media outlets including newspapers and the BBC.
The Press Association is now a digital business, with the ability to supply tailored text, pictures and video for use on any platform.
Mr Townsend, at Lloyds TSB Corporate Markets, said: “When you think of Howden in East Yorkshire, you automatically think of the Press Association and we are
very proud to be working with such a well established business. This deal demonstrates that despite the current economic climate, Lloyds TSB Corporate Markets is able to support good quality local businesses, which have a clear vision for the future.”
The deal comes as the major banks, including Lloyds TSB, Barclays, HSBC, Royal Bank of Scotland and Yorkshire Bank look to further develop their relationships with regional clients despite the international turbulence that has hit banking markets.
Steven Brown, managing director, PA Group, said: “Howden is the base for our sports news and data business, production unit and training centre as well as the headquarters of our accountancy and treasury options. It was clear to us that we needed a Yorkshire-based bank, which both understood the sector, our business and could provide us with the right deal.
“Lloyds TSB Corporate Markets fitted those criteria to the letter. The bank’s team, led by Richard Townsend and Jamie Allison, has been superb,” he added.
