Corporate & Institutional banking changes and changes in Group Executive Functions

Unite is here to support LBG workers!

Management in LBG have announced changes impacting 3 areas that sit within Lloyds Bank Corporate Markets:

• Financial Markets

• Capital Markets

• Islands

Financial Markets

Improvements in automation and changes to product and client demand has meant a shift is needed in the skills required to support this area going forward.   

Capital Markets

Falling transaction levels has meant reduction in workload, meaning less staff are needed to perform work at grades E & F.

Islands

To drive growth in this area several changes are being made to improve the operating model to support growth and efficiencies.

The new structure for all three areas is  expected to come into effect from Q1 2024.

---

Whilst the changes vary across these three areas, with some jobs being removed and new jobs created, all of these initiatives will potentially mean job losses will be required. 

Unite will work with the bank with the aim of making sure that no colleagues will be made compulsorily redundant. 

If you are impacted by any of these changes you will have received further information from your business area. 

---

Group Executive Functions

Changes within two areas of Group Finance; Group Cost & Investment (GC&I) and Central Finance (CF) were announced today resulting in 8 roles being removed from the structure.

Some colleagues will be placed into roles but ultimately, there will be colleagues at risk of losing their jobs at the end of the process.

Unite will work with the bank with the aim of making sure that no colleagues will be made compulsorily redundant. 

---

Career Mobility

Unite have been pressing leadership to ensure career mobility is kept at the forefront of their minds when changes like this arise, so we can encourage talented individuals to stay with LBG.

Unite have also been pushing for LBG to increase the range and number of opportunities available via the career mobility SharePoint site to ensure colleagues have a range  of exciting and meaningful opportunities to choose from.

If you are impacted by the announcement and would like to talk it over with a member of the Unite team, then please contact us - www.uniteinlbg.org/contact-us