Lloyds Private Banking has reorganised its UK private banking business with the departure of Mark Cheshire and is understood to have created a new ultra-high net worth unit.

Cheshire was chief executive of Lloyds TSB Private Banking and had been in the position since 2005.

Lloyds Private Banking shakes up unit, head of UK leaves

David Bain

Lloyds TSB

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Find out who is on the move in the City and beyond this week

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The UK lender has given the leading compliance job to a 20-year veteran

Barclays hires Centerview dealmaker Woeber to lead global M&A

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The UK lender has tapped a veteran dealmaker to head up a key area of growth

Once an heir apparent for Larry Fink, Wiedman now tops the list of potential successors to PNC chief Bill Demchak.

PNC Names Former BlackRock Star Mark Wiedman as President

The European Union has a plan to counteract the swathe of tariffs U.S. President Trump is planning to impose on foreign goods, European Commission President Ursula von der Leyen said.

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The Japanese investment firm is entwining its fortunes with a company that expects to lose billions of dollars for years to come, in the hope that it will emerge as the leader in AI.

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The BlackRock CEO says he wants individuals to have better access to the menu of private and illiquid investments that have long been core holdings of pensions, endowments and other institutions.

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The prospect of a radical escalation in the global trade war in the coming days has nearly doubled the probability of a recession in the U.S. economy in the next 12 months to around 35%, according to Goldman Sachs.

Goldman Sachs Lifts U.S. Recession Probability to 35%

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