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HONG KONG, Oct 23 (IFR) - Lloyds will consolidate its Asiancommercial banking activities in Singapore following decisionsto close its Australia and Hong Kong offices in 2013 and 2014,according to an announcement from the UK bank.
Singapore would become the group's Asian hub as part of itsstrategy of simplifying its international footprint, theannouncement said.
The group sold its Australian corporate loan book, motor andequipment financing businesses for A$1.45bn (US$1.31bn) toWestpac Banking Corp in December 2013, as reported at the time.
Stephen Skulley will head the group's current commercialbanking office in Singapore.
Andrew Ralph and Hiok Hyen Yeo have joined the office, bothas directors, global corporates Asia. Ralph moved to Singaporefrom the British bank in Sydney, while Yeo was previouslyAgricultural Bank of China Singapore's head of corporatebanking.
The group's commercial banking activities include termlending, import and export trade finance, structured and assetfinance, securitisation facilities and capital market funding. (Reporting by Kane Wu; Editing by Prakash Chakravarti)
