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2nd March 2010 - Lloyds Banking Group announces organisational changes

The Lloyds Banking Group has announced organisational changes today that will reduce the number of roles available in the Bank by a further 260 (net – 400 gross) by the end of 2010.

Wealth and International Division, Group Operations and Group Executive Functions have announced the latest phases of their integration plans as follows:

  • Wealth and International Division

In UK Private Banking, the approach to customer referrals within Personal Wealth Planning and Advisory Support will change resulting in a reduction of 230 roles (gross).

Accord has been consulted on this change and will support members who wish to be redeployed.  Voluntary redundancy will be available and the agreed bumping procedure will be followed.

  • Group Executive Functions

The Bank has consulted with Accord regarding its plans for a new Group-wide Resource and Learning team.

The availability of suitable alternative roles has been considered and the Union will support the members who are affected through our network of full time Regional Officers.

  • Group Operations: Payments and Business Services

The Bank has also announced plans to integrate the Trade Services functions from both HBOS and LTSB heritage banks.

This will mean the closure of the BoS Trade Operation at Princes House, Glasgow. It has been agreed that work from Reconciliations will move to Princes House  to mitigate potential redundancies.

Accord has been consulted on all three initiatives and is working with the Lloyds Banking Group and the operating Divisions to avoid compulsory redundancies.

The Union is contacting all of the members who are directly impacted today to offer advice, guidance and support.

Members seeking advice should email info@AccordHQ.org or contact the Accord Advice Line on 01189 341808.

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