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Lloyds Banking Group Integration - Essay Example

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Name of the of the Concerned Professor Subject 25 January 2011 Lloyds Banking Group – Integration Introduction Though the financial pundits did not expect much, so far as the task of altering the dire straits of banking industry was concerned, still much has changed in the last two years…
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Lloyds Banking Group Integration
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Download file to see previous pages One of the outcomes of the Housing Bubble Bust and the concomitant recession was the recognition of a pressing need for industry self-regulation bolstered by commensurate statutory and institutional reforms (Global Finance 2009). Especially, the financial markets in Europe today are governed by a general agreement and consensus as to the inevitability of internal and external monitoring of the banks and financial institutions (Global Finance 2009). The banks in Europe are increasingly under the state and stakeholder driven pressure to affect structural and remuneration reforms that positively discourage and restrain extreme risk taking and promote productivity and efficiency. Lloyds Banking Group, which performed miserably during the subprime mortgage debacle, is no way different from any other bank, as far as the requirement for restructuring and going lean is concerned (Fleming and West 2010). This essay intends to analyze as to varied organizational structures that the Lloyds Banking Group could resort to and the accompanying managerial, cultural and performance related aspects associated with the proposed options. Lloyds Banking Group It goes without saying that Lloyds Banking Group is indeed a prominent and important British Financial Institution. Lloyds Banking Group came into existence, after Lloyds TSB acquired HBOS in 2009. The British Government commands near to a 41 percent stake in the organization’s shareholding. Lloyds Banking Group comprises of four business divisions that are Retail Banking, Wealth & International, Wholesale and Insurance (Lloyds Banking Group 2010). The bank has business interests and operations scattered around a significant part of the world, including Asia, Middle East, US and Europe (Lloyds Banking Group 2010). Until now, to sell, promote and manage its highly diversified range of financial services and products, the group has predominantly relied on a divisional model, which is primarily a vertical structure, with its advantages and the accompanying bureaucratic arrangements, organizational hassles and inflexibility. Lloyd Banking Group’s behemoth size is what worries the regulatory bodies, organizational management and the common and institutional investors (The Economist 2010). Even as per some of the conservative estimates, Lloyds Banking Group has a hold over say 1/5th to 1/4th of the overall UK market for mortgages, small business loans, personal loans, retail accounts and credit cards (The Economist 2010). Added to this, when one takes into consideration the Groups constrained borrowing options, Lloyd Banking Group qualifies to be called a task, which is still far from being over (The Economist 2010). No wonder, the Group is definitely in the need of a desperate restructuring job that boosts its organizational efficiency and profitability, thereby enabling it to assure sustenance with its limited deposits and dried up borrowing sources. Need of Adopting the Right Structure It goes without saying that organizations and especially the financial institutions like banks are not static entities, but organic structures that imbibe sustenance, support and nourishment from the external micro and macroeconomic environment and do react and respond to external and internal changes and stimuli (Earley 1997). It is this very ability of a financial institution to be sensitive to the economic and regulatory changes that ensure its success and viability in the long run. The busting of the ...Download file to see next pagesRead More
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