Newspaper article The Evening Standard (London, England)

Laughing All the Way to Lloyds?

Newspaper article The Evening Standard (London, England)

Laughing All the Way to Lloyds?

Article excerpt

*EVEN Sir Victor Blank recognises he is human, so, in taking the Lloyds TSB job, he would let go of one of his two current chairmanships - probably Trinity Mirror.

The fact that by keeping GUS, he would be flouting the Higgs Code, which says one person should not chair two FTSE 100 companies, is unlikely to concern Blank. He belongs to that lofty City class that believes poor, misguided Sir Derek doesn't really understand the chairman's role. Besides, he will claim, GUS is to be broken up later this year, so the issue doesn't arise.

At Lloyds TSB, he would join a bank that has fallen behind the opposition.

Improving on his predecessor, Royal Dutch Shell veteran, Maarten van den Bergh,won't be difficult - and if things can't be worked upon, a sale is always a possibility.

At the business he will leave behind, though, he has been seen as a stumbling block to offers.There's a buzz that comes from owning national newspapers.

And Blank - something of a quiet leftie despite his wealth - derived satisfaction from being overlord of the Mirror, Sunday Mirror and People. …

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