Lloyds TSB Private Bank Loses Team of Bankers

Contributing Editor

25 April 2006

Lloyds TSB International Private Banking has lost a team of relationship managers from its Miami operations. A spokeswoman for Lloyds confirmed that there had been departures from its Miami office but was not able to confirm numbers or who they were. “We are clearly saddened by the loss of staff in Miami but we respect the decision of those who have chosen to leave,” said Antonio Cruz, regional director of the private bank’s Miami branch, in a statement. Mr Cruz was appointed to the regional director’s position last February. Lloyds said the private bank is very much on a growth path, despite these departures. “Growth plans include substantial development to one of its core markets, Latin America where it plans to increase assets under management by 50 per cent by 2009.” At the beginning of the year, Lloyds TSB IPB opened a regional office in Montevideo.