Investments | Lloyds Banking Group Plc (LLOY.L)
António Horta-Osório, the chief executive of Lloyds Banking Group , is to take a break from the role while he recovers from “extreme fatigue”. Tim Tookey, the Lloyds finance director who leaves next February to join Friends Life, is to replace him.
This news was enough to to wipe even more of Lloyds shares. They were on 37p last Friday and my target price was 30p. I bought this morning for 29p. A good investment? Who knows…
The company is large and 40% owned by the government now. There are plans to sell off lots of branches. It is effectively four banks because Lloyds took over Halifax Bank of Scotland. Before 2009 it was the Lloyds TSB group.
There will be a major announcement from the company next week, it’s hard to say what effect that will have on share prices. Investments are long term and the company does seem to have long term prospects as it sells off some branches and improves the overall business.
This is a not investment advice and investments can lose you money! I simply tell you what I have bought and I tend to buy when others sell!
- ‘Tired’ Lloyds Boss Takes Extended Leave (news.sky.com)