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At the head of the Lloyd's? near rival, Antonio Horta-Osorio is eminently qualified for the position. Photo: AFP

You can indicate that it is a good new coach Lloyd's shares have risen almost 4pc on the news. The taxpayer's point of view, his appointment was a $ 750 million from ￡-jumping in the set value of ￡ trends state this morning. "'A perfect choice', Ian Gordon, banks analyst Exane BNP Paribas, urged in a note.

Head of Lloyd's nearest rival, Horta-Osorio is eminently qualified for the position. Santander has the UK mortgage market 14pc and 10pc of deposits.Having purchased Alliance & Leicester and network of high street of the Bradford & Bingley, Santander has now 1327 branches and 25 m .Horta-Osorio clients knows a thing or two on the execution of a large Bank of detail of the United Kingdom. And they are larger than Lloyd's.

What really distinguishes him, however, is Santander.En 2006 financial crisis after Chief Executive, Horta-Osorio fired Abbey - as it was - the mortgage market. Later, he explained that he could not understand how the business model has worked, such as mortgages were actually performed sold at a loss. Rather, he focused on reducing costs as the giant Bank Spanish continued to absorb its new UK subsidiary acquired in 2004.

Caution de Santander remboursée.En 2008 as the banking crisis approached its nadir, Santander has been able to purchase A & L discounts.When B & B was nationalized, it purchased the branches and dép?t.Les book two agreements are transforming Santander, who has never missed a beat. Profits continued to grow throughout the crisis, and it remains one of the few banks to continue to provide mortgage additional households.

Horta-Osorio was adopted by banking aristocracy Britain, winning a place prized on the Court of the Bank of England. It is supposed to be close to Mervyn King, making him the rare specimen - banker promoted by the Governor.

Lloyd ' S, Horta-Osorio appointment will result in a focus on costs and assignments.By releasing Eric Daniels, Lloyd's will develop its disastrous HBOS merger behind him and look to the future.The sale of the Cheltenham & Gloucester branches can be accelerated.Underperforming loans may be sold discounts, the Bank seeks to reduce its loan book for ￡ cost by ￡ 200bn.It will be almost a clear-out of goods bad as Horta-Osorio resembles clean slate - something Daniels could simply cannot do without errors.

With the independent Commission banks homing the vast market of Lloyds share - a third mortgage and current account - Horta-Osorio shall demonstrate willingness to shrink Lloyds so a burst is not forced on the shore.

Despite his courteous outside Horta-Osorio is a cost cutting 10 000 to 25 000 members of staff the Abbey impitoyable.Quelque have been deleted in the three years following the .Service customer acquisition is is also point faible.Abbaye, then of Santander, always complete bottom league tables on levels of service client.Le counterpoint, however, is that the Bank has offered the best trading.

Delivery on the part of the growth of prices for the taxpayer to make a profit from its investment of ￡ trends won't facile.Mais Horta-Osorio a history of providing it is a man, after all, which lists among its hobby swimming with sharks.

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