Lloyds Banking Group Plc’s plan to sell branches to Co-Operative Bank Plc was “political” and the process was conducted in “bad faith,” according to Peter Levene, whose NBNK Investments Plc lost out in the bidding.
NBNK Investments Plc founder Peter Levene said his firm’s offer for 632 Lloyds Banking Group Plc branches exceeded Co-Operative Bank Plc’s bid, disputing evidence the lender’s chief executive officer gave to lawmakers.
John Vickers’s proposals to force U.K. lenders to insulate their consumer units from their investment banking operations may do more harm than good, according to Lloyd’s of London chairman Peter Levene.
Lloyd’s of London Chairman Peter Levene criticized regulators’ “unhealthy fascination” with examining the consequences of the credit crisis, saying excess scrutiny risks hindering London’s competitiveness with China.
U.K. banks, insurers and professional services should stop “self-imposed flagellation” and spur the country back to growth, according to Peter Levene, chairman of the Lloyd’s of London insurance market.
Lloyd’s of London Chairman Peter Levene told Sky News claims arising from the natural disaster in Japan won’t be “anything like as significant” as those that followed the Atlantic hurricanes, including Katrina and Rita, in 2005.
NBNK Investments Plc Chairman Peter Levene said the appointment of Lloyds Banking Group Plc’s new Chief Executive Officer Antonio Horta-Osorio could expedite discussions about NBNK’s possible purchase of 600 Lloyds branches and a deal could be agreed by the end of the year, the Financial Times reported, citing an interview.
NBNK Investments Plc, the investment company founded by Lloyd’s of London Chairman Peter Levene, is in talks to acquire National Australia Bank Ltd.’s U.K. units, according to a person familiar with the talks. Trading in NBNK shares was suspended.