Lloyd’s, Bermuda, the US collateral rules and the business of relationship banking after September 11

Lloyds TSB provides banking and debt finance services to more than half of the businesses in the Lloyd’s insurance market and is the only full service bank that deals with the Bermudian market from London. Here, Bill Cooper , Managing Director, Financial Institutions, Lloyds TSB Corporate Markets, reflects on the opportunities and challenges presented by the bank’s fast expanding business with the global specialist insurance sector

Banks have had to re-organise and reinvent themselves a great many times over the last 20 years and, in that regard, the Wholesale and International Banking division of the UK banking group Lloyds TSB has been no exception. However, according to Bill Cooper, Managing Director of Financial Institutions at Lloyds TSB Corporate Markets, the transformation of the division in recent years is unprecedented and has huge implications for the future development of the group. “The current structure and the desire to grow this part of the business hard has only come about over the last three to four years,” he explains during an interview with WIR at the group’s headquarters in the City of London’s Gresham Street.