HBOS, the Edinburgh-based bank, confirmed it was "well on track" to double its share of the UK business banking market by the end of next year. It aims to accelerate the rate of growth by more closely aligning its organisational structure with its customer base – small- to medium-sized enterprises (SMEs).
The group, which was formed following the merger of Bank of Scotland and Halifax, is hoping to grab a six per cent slice of the market, compared to its current three per cent share.
As a result, a number of boardroom changes have been announced. Colin Matthew, currently head of business banking, will take up the newly created role of chief executive, strategy and international operations.
The head of corporate banking, George Mitchell, will assume responsibility for larger SMEs.
Source: The Edinburgh Evening News