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Lloyds TSB and HBOS
23/09/2008
First Minister Alex Salmond today met executives from Lloyds TSB to discuss the implications of the proposed takeover of Halifax Bank of Scotland for the Scottish economy.
A delegation led by Archie Kane, a Lloyds TSB board member and chief executive of Scottish Widows, saw the FM and Finance Secretary John Swinney in Edinburgh.
Afterwards, the FM said that Lloyds TSB had agreed to make a presentation to a Scottish Council Development and Industry (SCDI) forum of their plans for the future once they were in a position to do so.
He said he welcomed that because it indicated a degree of confidence in what they (Lloyds) would have to say to that important canvass of opinion.
On Monday, a special meeting of the SCDI passed a motion acknowledging issues and concerns about the impact of the proposed deal on the wider Scottish economy.
Mr Salmond said that motion had been presented to the meeting. He continued:
"The issue is about what happens to the real head office operations and the corporate decision making and on that Lloyds TSB has agreed to have a submission from the Scottish Government in which we can present the arguments for Scotland to have key decision making functions and the advntages that gives to the company on an economic and finanical basis.
"We have a very powerful case to present. I am assured there is an acute awareness of the strength and the depth of the association, feeling and commitment to the Bank of Scotland through Scottish society.
"It was clear at yesterday's meeting that although the economic matters are hugely important that Bank of Scotland is an institution hard wired into the social as well as the economic fabric of Scotland and Mr Kane assured me that he and his colleagues understand and appreciate that."
Lloyds TSB employ 7,000 people in Scotland and HBOS have 17,000 staff.