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September 27, 2011updated 04 Apr 2017 3:48pm

Lloyds boosts UK Wealth leadership team

Lloyds Banking Group has expanded its senior UK Wealth leadership team as part of an ongoing strategy to broaden its private banking client base. The appointments are the latest in a series of restructuring efforts by Lloyds to simplify its wealth arm as a result of a strategic review conducted in June.

By Tina Leung

Lloyds Banking Group has expanded its senior UK Wealth leadership team as part of an ongoing strategy to broaden its private banking client base.

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  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
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The appointments are the latest in a series of restructuring efforts by Lloyds to simplify its wealth arm as a result of a strategic review conducted in June.

UK Wealth’s five new key appointments included:

  • Steve Ayers, head of region – private banking, London & South East
  • Alan Flint, head of region – private banking, North
  • Willie Raeburn, head of region – private banking, Scotland
  • Jo Perry-Taylor, head of region – private banking, Wales and West
  • Stuart Moseley, commercial director

Other appointments in the senior management team were taken on by members who had held similar roles in the past:

  • Malcolm Glaister, head of key clients
  • Mark Miles, head of UK high net worth
  • Simon Clark, head of direct advice & service
  • Gary Sutherland, director, wealth management – personal
  • Simon Uings, director, wealth management – corporate & commercial

 

UK Wealth to triple customers by 2014

The bank’s strategic review called for Lloyds’ wealth arm to become the primary wealth adviser to UK’s mass affluent, affluent and high net worth individuals.

The UK-based bank aims to triple its number of clients, and increase income per customer by more than 50% by 2014.

Lloyds said it will invest in its electronic capabilities such as an improved online channel, an execution-only service, and a new investment platform, to help achieve that.

The strategy also set out Lloyds’ drive to refocus its international business on UK expatriates and those with UK connections.

 

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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