Lloyds TSB Scotland will announce a shake-up in its wealth management operations this week in order to attract higher earners, according to The Scotsman newspaper.
The newspaper has revealed the bank will replace its Executive Choice offering with Lloyds TSB Scotland Private Client Banking, and open a wealth center for clients in Edinburgh.
Lisa Stephenson, customer, wealth management and marketing director, said: Our research has shown that customers within the GBP50,000 plus income bracket often have more complicated financial affairs and less time to do their banking.
Lloyds is looking to compete with Bank of Scotland and Clydesdale in the emerging Scottish affluent market, as it already has the highest number of wealthier customers in the UK. The wealth center is expected to open in the New Year.