View more on these topics

Lloyds to phase out Clerical Medical brand under restructure

Lloyds Banking Group is set to merge its Scottish Widows and Clerical Medical intermediary sales forces under the Scottish Widows brand, with Clerical Medical to be phased out.

The sales forces, which come together on July 1, will be accompanied by a new intermediary product proposition which consists of Scottish Widows’ pension products and Clerical Medical’s onshore and offshore investment products.

The merger will see up to 305 jobs axed by the end of July. These include up to 190 jobs in the sales teams and a further 115 jobs in customer services.

Scottish Widows managing director Andy Briggs confirmed that the Clerical Medical brand will be phased out for new business.

He added that existing customers will be unaffected by the change.

Lloyds Banking Group executive director insurance Archie Kane says: “This is the first important step in our aim to establish one simplified organisation. We are mindful of the rich heritage and strength of the Clerical Medical brand however our research has shown that Scottish Widows is the most recognised and trusted brand in the market place.

“Today’s announcement takes us a step closer to achieving our vision. To be recognised as the best life, pension and investment company by our customers,
colleagues and shareholders. In doing so, we are bringing together the best of both of our heritage companies to provide a very strong platform for the future.”


Age cap holds back Isa rise

After years of pressure from the financial services industry, the Government has finally decided to raise the annual Isa allowance by £3,000.

Home truths

Are we seeing the beginning of another cultural revolution? Chairman Mao and Margaret Thatcher were both instigators and architects of their very own cultural revolutions which changed the face of their nations.

Phone - thumbnail

Pension Wise — now taking calls…

Those with decent-length memories will recall that in the 2014 Budget statement George Osborne announced the new (and entirely unexpected) pension freedoms. The new rules come fully into force in less than two weeks.


News and expert analysis straight to your inbox

Sign up


There is one comment at the moment, we would love to hear your opinion too.

  1. 200,00 sterling pounds was detonated in the mururoa atoll amongst other ARMS of Massive uKNOW what. Some these bonds were stolen from insurances for a future and was wondering about your opinion on this.That is a lot of money to lose and have to retrace.Whats the hold up….moonies

Leave a comment


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