Lloyds Chairman to Step Down

It does bear slight impressions of a huge car crash where you look in the opposite direction..

Sir Victor Blank has announced he will step down as Lloyds chairman next year.  His decision to take retirement has apparently nothing at all to do with the fact that he chose to take over HBOS, a move which has costs billions in its disaster- levels.  The merger has failed so spectacularly but still could iron out to improve say some.  What really begs questions is the fact that the takeover was made in September 2008 – just after the Lehman Brothers nearly collapsed, an event which would have brought down the global banking sector.

Seems like the perfect time to create a “superbank” backed by Gordon Brown?  Or perhaps a little on the risky side?

Blank has been praised by board members who have called him a “first class chairman”.  So was he just unfortunate for having to preside over such a difficult period in the economy, or is he directly to blame for the vast losses?

His announcement has caused a rise in Lloyds shares on the markets.  CFDs traders might enjoy the return of investors in the UK market – or is it too early to say this?

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