It was Trustee Savings Bank, the forerunner of Lloyds TSB, that in 1984 styled itself as “the bank that likes to say yes” in one of the most 80s-style TV adverts you’re likely to find.
The TSB brand has gradually slipped away from Lloyds since the two merged in 1995 to form Lloyds TSB. Lloyds Banking Group, as it has been called since the 2009 takeover of HBOS, will shed the three-letter brand entirely when it offloads 600-plus branches to the Co-op.
The TSB name might be going elsewhere, but the approach isn’t. Lloyds still says “yes” to a large numbers of firms – Allen & Overy, Clifford Chance and Linklaters are all among its advisers – while today we reveal CMS Cameron McKenna, Eversheds and Osborne Clarke as the first firms to emerge as successful bidders for the bank’s revamped own-account panel.
None of the three firms are fresh to the panel and there are unlikely to be many new additions, although The Lawyer has learnt the name of a US firm that refused to give in to Lloyds’ attempts to entice it onto the panel because the terms were not to its liking.
Banking lawyers are still on tenterhooks, with the Lloyds pass-through panel not set to be reviewed until January. And while panel revamps by RBS and HSBC are now behind us, next year’s reviews will see the turn of the mammoth yes-sayer – Barclays.
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Also on TheLawyer.com:
- Lloyds’ private equity arm LDC has also said yes, this time to Keoghs, which has won regulatory approval for its ABS conversion and cash injection
- YouView’s legal head has joined Osborne Clarke as a partner, shortly after the digital TV service’s launch
- China’s CIC has spread its mandates out widely, this time hiring Clifford Chance for its purchase of a stake in Heathrow
- And, the judge in the big-money BTA Bank v Ablyazov litigation is not biased against the latter, rules, erm, the judge