Lloyds seeks marketer to aid Verde assets sale

Lloyds Banking Group is seeking a senior marketer to oversee 'Verde', the newly created division that houses the assets it is being forced to sell off by European Union regulators.

Lloyds: being forced to sell hundreds of branches
Lloyds: being forced to sell hundreds of branches

It is understood that the successful candidate will be given the remit of enhancing the development of the division, which includes the 600 branches that Lloyds must offload, as a saleable asset.

Lloyds this week appointed ex-Virgin Money executive Paul Pester as chief executive for Verde. Helen Rose will be chief operating officer, Neeta Atkar risk director, and Peter Navin network director.

Verde also includes assets such as the TSB and Intelligent Finance brands and its online banking service, as well as 600 Lloyds TSB and Cheltenham & Gloucester branches and a 19% share of Lloyds' mortgage customer base.

Lloyds has been ordered to identify a buyer for Verde before the end of the year, while the sale must be completed before November 2013.

Tesco and Virgin are among the brands to have been linked with a bid for the division.

A spokesman for Lloyds Banking Group said it was 'not yet decided' whether the banking group would look to hire a senior marketer to work in the Verde division.

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