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Lloyds Closes Equities Unit

Lloyds Banking Group has closed its equities arm,.

Lloyds Banking Group has closed its equities arm, Financial Times reports. The equities business was part of Lloyds’ capital markets business and employed about 13 people.

The bank is seeking to reduce exposure of its investment banking division to riskier activities and focus on providing debt services to corporate clients. Lloyds has also sold a private equity portfolio, which was inherited from HBOS.

Click here for the story from Financial Times.Click here for the additional coverage from Financial News.

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