Newspaper article The Evening Standard (London, England)

Lloyds Chiefs Face Salmond amid Anger over HBOS Deal

Newspaper article The Evening Standard (London, England)

Lloyds Chiefs Face Salmond amid Anger over HBOS Deal

Article excerpt

LLOYDS TSB management was today meeting Scottish First Minister Alex Salmond over Lloyds' takeover of HBOS in what has become a highly politically charged deal.

Many Scots are furious at the prospect of an English takeover of their national bank, and today one of its leading bankers even outlined an alternative plan to lead a buyout of the Bank of Scotland part of the business.

Jim Spowart, the Scottish banker who founded Intelligent Finance, today said while he did not disagree with the need for the "shotgun wedding" rescue of HBOS, he was worried about the fate of the thousands of bankers in Scotland.

"We have some of the best bankers in the world in Scotland. It would be a disaster to see their talents wasted," he said.

Spowart told the BBC he thought it would be possible to gain funding to buy the Bank of Scotland division after the Lloyds takeover had gone through. Reports have suggested he and a consortium of other bankers were looking to raise ? …

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