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Is Lloyds building an equities business?

Surprise, surprise – according to various headhunters, Lloyds, the doyenne of the nationalised banking sector, is said to be building an equities business.

Rumour has it that the bank has brought in the services of Terry Murray, a former Bridgewell banker, as head of equity sales, and is looking to hire a team.

The bank didn’t return a request for comment on its equities intentions, although the switchboard confirmed the presence of a Terry Murray in equities. However, when we phoned (twice), T Murray was not there and had no voice message.

Lloyds’ apparent diversion into equities may come to nothing. George Osborne said today that he plans to break up banks that become too large, and the Bank of England is said to be toying with imposing a Glass Steagall-style division between commercial and retail banking.

“You have to question what they can add in this space. It’s not like there aren’t 50 other institutions out there trying to do the same thing,” says one headhunter.

Comments (10)

  1. “Is Lloyds building an equities business?”

    Is the Pope a muslim?

  2. is lloyds equities business the new goldman sachs?

  3. Terry Murray is listed on Bloomberg as working at Lloyds in Equity sales…..

  4. ABS Trader – you beat me to it!!!

    Fair credit to Sarah though, she did refrain from using her most cherished question in this instance…

  5. I’d like to point out that the use of that headline wasn’t intended to be entirely serious – particularly by the 2nd+3rd use.

    Sarah, Editor, eFinancialCareers Reply
  6. dont worry we wont think any less of you Sarah……your still cute

  7. is Lloyds equities the new Pythagoras Head?

    Pythagoras Head Reply
  8. I thought they were building an ice-cream franchise that will melt as fast as their share price

  9. Sarah keep using the “new Goldman Sachs” thing. Keeps the columns and comments interesting.

    merchant banker Reply
  10. Is Halifax Lloyds Trust Savings Bank of Scotland the new Lehman Stearns? Or Bear Brothers?

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