People moves: Lloyds TSB rationalises FX business
Staff at the combined Lloyds TSB/HBoS were due to be told on Thursday (June 4) whether or not they had jobs in the new business. The bank will not confirm numbers although well-placed sources say around 25% of the workforce would be let go.
The company is recruiting externally for a newly created sales role, head of FX solutions, encompassing sales and e-delivery. The new head of FX solutions will report to Clare Francis, head of sales and derivatives structuring.
In addition, Colin Devo is confirmed head of major corporates FX and Ted Holloway is appointed head of financial institutions FX. Both will report to the new head of FX solutions when appointed. Lloyds TSB/HBoS has said anybody not yet appointed to a role will continue to look for opportunities within the organisation.