Bloomberg News

Lloyds to Speed Up Ring-Fencing Bank Separation, Telegraph Says

July 22, 2012

Lloyds Banking Group Plc (LLOY) plans to complete the ring-fencing separation of retail and investment banking ahead of the 2019 deadline imposed by the Independent Commission on Banking, the Sunday Telegraph reported, without saying how it got the information.

Chief Executive Officer Antonio Horta-Osorio may announce the move at the bank’s second-quarter results on July 27, the newspaper said.

To contact the reporter on this story: Sofia Horta e Costa in London at shortaecosta@bloomberg.net

To contact the editor responsible for this story: Mike Harrison at mharrison5@bloomberg.net


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