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Friday, 31 October 2008

A merger of sorts

In the new management team unveiled by Lloyds TSB as it takes over HBOS, just two out of the top 11 jobs in the new bank will
go to HBOS executives, with Lloyds TSB executives taking most of the top roles in a team headed by Eric Daniels, chief executive of Lloyds, and Sir Victor Blank, the bank's chairman.

Which reminds me of the "merger" between ING and Barings, as it was portrayed by some of the failed bank's staff who couldn't accept they were being taken over. They thought part of the UK bank's name was kept when the "merged" bank was named ING.

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