Lloyds Banking Group has announced it will close down its Equity Markets division \u2013 as part of its strategy to dispose of non-core assets.<\/p>\n
The division has around a dozen employees and the announcement comes shortly after the bank said 200 jobs would go at its insurance arm.<\/p>\n
Since the onset of the financial crisis, the bank, which is 43% owned by the taxpayer, has axed more than 26,000 jobs.<\/p>\n
In a statement, the bank said: \u201cOur equity markets business is modest with a small market representation. We are making every effort to offer redeployment opportunities to affected employees.\u201d<\/p>\n
The banking giant has made several disposals recently as it continues to sell assets under the orders of the European Commission as a punishment of the billions of pounds in state aid that the bank received from the Government at the height of the financial crisis.<\/p>\n
Royal Bank of Scotland, which is 83% owned by the taxpayer, is in the midst of a similar strategy \u2013 recently disposing of the Priory Group \u2013 the care home and clinic renowned for treating celebrities.<\/p>\n","protected":false},"excerpt":{"rendered":"
Lloyds Banking Group has announced it will close down its Equity Markets division \u2013 as part of its strategy to<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[2],"tags":[],"class_list":["post-353","post","type-post","status-publish","format-standard","hentry","category-banking"],"_links":{"self":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/353","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=353"}],"version-history":[{"count":0,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/353\/revisions"}],"wp:attachment":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}