The bank’s strategic review, unveiled this morning, contains the lofty goal of becoming the “primary wealth adviser to our UK mass affluent, affluent and high net worth customers”.
Lloyds intends to more than triple the number of ‘in-proposition’ customers as well as increasing income per customer by over 50% by 2014.
“To deliver this, we will invest in new coverage models to better meet our customers’ service needs, electronic capabilities such as an improved on-line channel and an execution-only service, and a new investment platform incorporating Scottish Widows’ and third-party products,” the bank said in its review.
The group-wide proposition will help Lloyds to create a “simpler, more agile and responsive organisation” and will also involve it making “substantial investments in better-value products and services for our customers”, said chief executive Antonio Horta-Osorio, who joined the bank from Santander in March.
