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| Version 3 | Version 4 |
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| Salmond meets Lloyds TSB bosses | |
| (about 3 hours later) | |
| First Minister Alex Salmond is meeting executives from Lloyds TSB to discuss the bank's planned takeover of HBOS. | |
| He is pressing for the headquarters of the new bank to be in Scotland. | |
| Mr Salmond is holding talks with a delegation led by Archie Kane, a Lloyds TSB board member and the chief executive of Scottish Widows. | |
| The meeting comes after a summit of Scottish politicians and business leaders agreed a "national statement of concern" about the situation. | The meeting comes after a summit of Scottish politicians and business leaders agreed a "national statement of concern" about the situation. |
| HBOS was formed in 2001 from a merger between the Halifax and Scotland's oldest bank, the Bank of Scotland. | HBOS was formed in 2001 from a merger between the Halifax and Scotland's oldest bank, the Bank of Scotland. |
| Advertisement | Advertisement |
| Newsnight Scotland asks if market turmoil helped bank bosses complete a deal they had been discussing for some time | Newsnight Scotland asks if market turmoil helped bank bosses complete a deal they had been discussing for some time |
| Lloyds TSB announced last week it had agreed a £12.2bn takeover after shares in Edinburgh-based HBOS plummeted. | Lloyds TSB announced last week it had agreed a £12.2bn takeover after shares in Edinburgh-based HBOS plummeted. |
| The move has raised fears that jobs will be lost and the 300-year-old Scottish institution's heritage will be eroded. | The move has raised fears that jobs will be lost and the 300-year-old Scottish institution's heritage will be eroded. |
| Lloyds TSB said the "management focus" was to keep jobs in Scotland. | Lloyds TSB said the "management focus" was to keep jobs in Scotland. |
| It has also vowed that the Mound would remain as the Scottish headquarters and Bank of Scotland notes would continue to be printed. | It has also vowed that the Mound would remain as the Scottish headquarters and Bank of Scotland notes would continue to be printed. |
| The first minister has pledged to "press substantially" to retain the status of the Scottish financial sector. | The first minister has pledged to "press substantially" to retain the status of the Scottish financial sector. |
| He also said he would urge the new bank to locate its headquarters in Scotland. | He also said he would urge the new bank to locate its headquarters in Scotland. |
| Lloyds TSB chairman Sir Victor Blank is reportedly not at the meeting, but Mr Salmond insisted Mr Kane was the right man to discuss HBOS's future. | |
| Meanwhile, the financier behind attempts to save the Bank of Scotland has suggested that a foreign bank or investment fund might step in to take it over. | Meanwhile, the financier behind attempts to save the Bank of Scotland has suggested that a foreign bank or investment fund might step in to take it over. |
| 'National bank' | 'National bank' |
| Jim Spowart, who created Intelligent Finance, said: "It may be possible to get another foreign bank to come in and make a bid for this bank, in which case the head office would be kept intact and perhaps the bank could continue to run as is." | Jim Spowart, who created Intelligent Finance, said: "It may be possible to get another foreign bank to come in and make a bid for this bank, in which case the head office would be kept intact and perhaps the bank could continue to run as is." |
| Another possibility was to consider stripping out the Bank of Scotland from HBOS, said Mr Spowart. | Another possibility was to consider stripping out the Bank of Scotland from HBOS, said Mr Spowart. |
| "We are talking about an institution in Scotland - this is Scotland's national bank," he said. | "We are talking about an institution in Scotland - this is Scotland's national bank," he said. |
| "I'm not saying that last week was the wrong deal, and it might be the only deal in town. | "I'm not saying that last week was the wrong deal, and it might be the only deal in town. |
| "But I think we now have to look at the various alternatives." | "But I think we now have to look at the various alternatives." |
| At Monday's summit, politicians and business leaders united in a bid to make sure Scotland gets the "best possible deal" in the wake of the proposed takeover. | At Monday's summit, politicians and business leaders united in a bid to make sure Scotland gets the "best possible deal" in the wake of the proposed takeover. |
| Mr Salmond and Lesley Sawers, the chief executive of the Scottish Council for Development and Industry, chaired a meeting of the group in Edinburgh. | Mr Salmond and Lesley Sawers, the chief executive of the Scottish Council for Development and Industry, chaired a meeting of the group in Edinburgh. |
| They expressed fears not only about jobs and headquarters, but also about the wider impact on Scotland's society and economy. | They expressed fears not only about jobs and headquarters, but also about the wider impact on Scotland's society and economy. |