Lloyds Banking Group

Lloyds Banking group completes property portfolio for project verde

10 October 2012

Lloyds Banking Group today confirms it has finalised the property portfolio for its divestment programme Verde. The Group has secured a lease of the 5th floor at 20 Gresham Street, London, EC2. The office is the eighth in the Verde portfolio complementing the other head office sites in Bristol and Edinburgh. It will provide accommodation for approximately 250 employees and will be the new bank’s principal hub in London and the south-east. The fitting-out of the premises will begin later this year and occupation is expected in May 2013.

Verde is the project name Lloyds Banking Group has given to the programme to build a new bank – TSB – for the UK. Born out of the financial crisis, TSB will be a new and fully functioning high street bank when it launches in 2013, subject to FSA approval.

TSB will consist of around five million customers who hold eight million accounts. They will be served by 8,000 colleagues based at 632 branches across the UK with offices in Edinburgh, Sunderland, Gloucester, the West Midlands, Swansea, Bristol and London.

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