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British bank Lloyds appoints new chairman

Britain's bailed-out Lloyds Banking Group on Monday appointed Norman Blackwell, a former Downing Street adviser to Margaret Thatcher and John Major, as its new chairman. "Lloyds Banking Group plc is pleased to announce that Lord Blackwell will succeed Sir Winfried Bischoff as Chairman of the Group," the lender said in a statement. Lord Blackwell, 61, will take the reins on April 3, 2014, when Sir Winfried, 71, will retire from the company.

Shares in Aberdeen Asset Management surge after it signs deal to take on Lloyds unit

LONDON - Shares in Aberdeen Asset Management PLC surged Monday after the company struck a deal with Lloyds Banking Group PLC that analysts say will make it Europe's biggest independent fund manager. In a statement, Aberdeen said it will buy Lloyds' asset management unit Scottish Widows Investment Partnership for around 550 million pounds ($885 million) in shares.

Britain to sell 6% of Lloyds bank

Britain launched plans on Monday to sell six percent of its stake in bailed-out Lloyds Banking Group, marking the lender's first crucial step towards a return to the private sector. UK Financial Investments (UKFI), which manages the state's bank holdings, said in a statement that it will seek to sell 4.28 billion shares to institutional investors. The sale will see the Conservative-Liberal Democrat coalition government's LBG holding drop from 38.7 percent to about 32.7 percent.

Britain to sell 6% of bailed-out Lloyds bank

Britain will seek to sell 6.0 percent of its stake in bailed-out lender Lloyds Banking Group, state banking body UKFI said on Monday. UK Financial Investments (UKFI), which manages the government's bank holdings, said in a statement that the stake in Lloyds will drop from 38.7 percent to about 32.7 percent. "UKFI announces its intention to sell part of HM Treasury's shareholding in Lloyds Banking Group plc," it said in a statement issued after the closure of the London stock market. "The disposal of these shares will be by way of a placing to institutional investors."

Britain to sell 6% of Lloyds bank

Britain launched plans on Monday to sell six percent of its stake in bailed-out Lloyds Banking Group, marking the lender's first crucial step towards a return to the private sector. UK Financial Investments (UKFI), which manages the state's bank holdings, said in a statement that it will seek to sell 4.28 billion shares to institutional investors. The sale will see the Conservative-Liberal Democrat coalition government's LBG holding drop from 38.7 percent to about 32.7 percent.

Lloyds hires advisers on possible asset manager sale - sources

By Matt Scuffham LONDON (Reuters) - British bank Lloyds has hired advisers for the possible sale of its Scottish Widows asset management arm, as it prepares for a likely regulatory demand to raise more capital, sources said. UK banks are having to consider further disposals after the Bank of England said they must raise a total of 25 billion pounds of extra capital by the end of the year, to be in a position to absorb future loan losses.

Lloyds bank says to sell 20% stake in investment unit

Britain's state-rescued Lloyds bank said on Monday that it would seek to sell 20 percent of its holding in investment manager St James's Place, as part of ongoing restructuring efforts. "Lloyds Banking Group plc announces today its intention to sell an anticipated minimum 102 million ordinary shares in St James's Place plc, representing approximately 20 percent of the company's existing issued ordinary share capital," it said in a brief statement. "The placing reflects Lloyds' strategy to simplify the group and focus on its core customer franchise."
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