On Monday The Financial Times reported that Lloyds Banking Group planned to acquire London offices, but the company has now commented that they have no such plan.
The paper had unnamed sources, but wrote that the bank was making preparations to have a series of ‘regional hubs’ in Edinburgh, London and Manchester.
Initially no one at Lloyds was available to comment but, since the report was printed, a Lloyds representative has shed some light on the reported plan.
The report from The Financial Times wrote that, ‘Lloyds Banking Group is looking for new headquarters in the City of London, signalling the part-nationalised bank’s new-found confidence in its financial prospects.’
‘Its strategy will also see the creation of regional hubs in the UK’s main cities, including London, Edinburgh and Manchester.’
In a short email the Lloyds representative denies these claims and said, ‘We have no plans to look for a new London headquarters.‘
It is believed that such a headquarters would be unnecessary as Lloyds Bank already has a UK headquarters in Edinburgh, and major offices in Manchester and London; as well as smaller offices all over the country.
The Financial Times also noted, ‘The bank is also seeking to sharply cut the number of its corporate buildings over the next few years to reduce operating costs.’
However, no comments about downsizing were made by the Lloyds Bank representative.