Lloyds TSB News Update: TSB Bank Launched

First TSB Bank

Lloyds TSB news update: as the company looks to separate itself into two entities, new TSB boss Paul Pester discusses the type of bank TSB aspire to become.

At the beginning of September 2013 the 246 new branches of the bank TSB are destined to open their doors for the first time, over the following two days the remaining 385 will also open. This is the final step as the Lloyds and TSB separate after the company, when it was whole, was instructed to assist with the broadening of possibilities in the UK banking market and had to relinquish the control of 631 of their branches.

Pester, the 49 year old with vast experience in the finance market spanning from Virgin Money to Santander and overseeing several mergers such as the Abbey/Alliance and Leicester/Bradford and Bingley one, has made it clear that to all of his staff what kind of bank he intends to be head of.

He met with his 800+ employees and instilled some inspiration and power into them by gathering them all in one place and asking them to pull together and complete tasks such as finishing the sentence ‘I want to help my local community by…’. With the aspirations still ringing around the room, Pester knew he had made an impact on his new staff, apologies colleagues.

This is just one of the words he insists upon reinforcing – it is important that they all pull together and become a team. The new bank is being met with mixed emotions from both the new and old customers. Some have moved from their preferred Lloyds, others have gone the other way of their own accord – either way it is imperative that they are welcomed.

Another major aspect that they will be focussed on is localisation. Although the company will not receive any television based advertising to start with, the emphasis will be heavily on local communities and TSB’s desire to bond with the communities.

Cinemas will see the first advertising for the new bank as they roll out an animation about the history of the Trustee Savings Bank opened in 1810 by Reverend Henry Duncan who established it with the idea of it being a community bank.

TSB, having merged with Lloyds in 1995, is going back the other way and the launch of this new bank will the first time a fully-fledged bank has ever been launched. They are starting out with somewhat of a boost as well – 4.5 million customers and in excess of £1 billion in the savers’ accounts. Managers have the power to start lending from day one with the promise of billions of pounds in outstanding mortgages keeping them supported.

TSB were granted the opportunity of becoming their own bank when the first choice for the bid, the Co-op fell through. If you are interested in learning more about the merger, follow this link http://www.customerservicescontact.co.uk/lloyds-telephone-number/.

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