FX profile: Lloyds FX seeks to roll back the years; sets sights on top 10 by 2016
In 1990, Lloyds Bank was ranked seventh in the Euromoney FX poll, in what was essentially then a survey of corporates. The proceeding years haven’t been all that kind to Lloyds in FX, and by 2008 the bank had fallen outside the top 50.
However, a new strategic direction at the helm is breathing new life into its FX business. Last year, Lloyds climbed nine places to 38th in Euromoney’s FX rankings. As far as the bank is concerned, it is just the beginning, as it sets out to reinvigorate its FX division. Rob Garwood – head of FX sales– in a recent interview with EuromoneyFXNews lay out his targets: to reach the top 20 by 2014 and the top 10 by 2016.
A bold statement of intent? Possibly. After all, the industry is littered with tales of banks announcing their undying commitment to become a leading FX player....
Voting for the Euromoney FX Survey 2012 is underway. In the run up to the results and award dinner in May, EuromoneyFXNews will be running a series of profiles of the top banks in the FX industry.