View more on these topics

Lloyds to cut 200 jobs in general insurance division

Lloyds Banking Group is cutting 200 jobs in its general insurance division following a back office merger with Lloyds TSB and HBOS General Insurance.

The job cuts will be in the bank’s sales, marketing, actuarial and underwriting units in its Newport, South Wales and Yorkshire operation centers.

Last month the bailed-out bank cut more than 1,000 jobs partly as a result of the merger of Clerical Medical into Scottish Widows.

In June it announced it is to cut 240 offshore finance jobs across Jersey, the Isle of Man and Guernsey by the end of 2011, with a further 2,100 jobs over the next three years.

Lloyds general insurance managing director Philip Loney says: “We are bringing together these essential support functions in order to help meet the needs of our customers and the general insurance division.

“We recognise that this is difficult news for our affected colleagues. We are committed to working through these changes with our colleagues carefully and sensitively and will seek to use natural turnover and redeployment wherever possible.”

Recommended

Tøraasen moves to Thames River

Thames River Capital has appointed Trygve Tøraasen as a fund manager on its European equities team. He will manage the Thames River European fund alongside Carlos Moreno.

Nomura introduces emerging markets protected fund

Nomura International has introduced the global emerging markets III 80% protected fund, an offshore Oeic that applies a constant proportion portfolio insurance strategy to six emerging market funds.

Help, I’ve been appointed as a trustee. What are my responsibilities?

Graeme Robb, Technical Manager at Prudential looks at the key duties and responsibilities of a trustee.  This article will consider the following: Duties to be performed on appointment Investment duties Protecting the interests of beneficiaries Keeping accounts and records Distributing property to beneficiaries Duties to be performed on appointment Obtain a copy of the trust […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com