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Salmond to lead bank presentation Salmond to lead bank presentation
(40 minutes later)
Alex Salmond is to lead a government presentation to Lloyds TSB's chairman, Sir Victor Blank, it has emerged. The first minister is to lead a government presentation to Lloyds TSB's chairman, Sir Victor Blank, it has emerged.
It comes after First Minister Alex Salmond's talks with the bank's board member Archie Kane, who is drawing up details of the £12.2bn HBOS takeover. It comes after Alex Salmond held talks with the bank's board member Archie Kane, who is drawing up details of the £12.2bn HBOS takeover.
During the talks Mr Salmond pressed for assurances about potential job losses and for the new bank's headquarters to be in Scotland. Mr Salmond pressed for assurances about the retention of jobs and for the new bank's headquarters to be in Scotland.
Mr Kane said Lloyds TSB had to listen to the issues raised at the meeting.Mr Kane said Lloyds TSB had to listen to the issues raised at the meeting.
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.
Lloyds TSB announced last week it had agreed a takeover after shares in Edinburgh-based HBOS plummeted.
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Newsnight Scotland asks if market turmoil helped bank bosses complete a deal they had been discussing for some timeNewsnight 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 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. Mr Salmond said: "Lloyds TSB have agreed to have a submission from the Scottish Government which will present the arguments for Scotland as a location for key head office decision-making functions.
It has also vowed that the Mound would remain as the Scottish headquarters and Bank of Scotland notes would continue to be printed. "We have a very powerful case to present on the advantages that instils to the company on an economic and financial basis."
Mr Kane said after the meeting: "We have two organisations that we're trying to put together that have a long, strong Scottish heritage, and there's a great and deep understanding of the issues as they pertain to Scotland.Mr Kane said after the meeting: "We have two organisations that we're trying to put together that have a long, strong Scottish heritage, and there's a great and deep understanding of the issues as they pertain to Scotland.
"We are very interested in pulling together all of the concerns and we will put that into our planning process."We are very interested in pulling together all of the concerns and we will put that into our planning process.
"We haven't started our planning for this deal yet but it's important that we listen to all of the issues that have been reported to us today.""We haven't started our planning for this deal yet but it's important that we listen to all of the issues that have been reported to us today."
Opposition party leaders who spoke to Mr Kane before his talks with the first minister said their meetings were constructive.Opposition party leaders who spoke to Mr Kane before his talks with the first minister said their meetings were constructive.
It may be possible to get another foreign bank to come in and make a bid for this bank Jim SpowartBanker
Iain Gray, the leader of the Scottish Labour Party, said he was reassured by Lloyds' "commitment to Scotland".Iain Gray, the leader of the Scottish Labour Party, said he was reassured by Lloyds' "commitment to Scotland".
I think we now have to look at the various alternatives Jim SpowartBanker "Lloyds TSB has made some welcome and positive early statements about jobs and headquarter functions," he said. Scottish Conservative leader Annabel Goldie said politicians could not dictate what commercial decisions the new bank should make, but it was their job to champion the case for Scotland.
"Today's meeting was a step in ensuring these ambitions are realised." Tavish Scott, the Liberal Democrat leader, said Lloyds recognised the importance of financial services "to Scotland's DNA".
Conservative leader Annabel Goldie said: "Politicians cannot dictate to the new entity what commercial decisions it should make.
"It is our job to encourage, to champion and to persuade Lloyds TSB of the case for Scotland."
Tavish Scott, the Liberal Democrat leader, said: "It is clear that Lloyds recognise the importance of financial services to Scotland's DNA.
"It is our job as politicians to work across parties and across business to turn that into results."
'National bank'
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.
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. He said another possibility was to consider stripping out the Bank of Scotland from HBOS.
"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.
"But I think we now have to look at the various alternatives."
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.