As Gary explains, there is “no ‘golden rule’ or hard criteria”. The reasons for a business being referred to the BSU team are varied. “Within the BSU team itself, we have people with experience in working with a range of corporate businesses, especially those facing trading or financial difficulties and we draw on expertise from colleagues with a diverse range of skills in corporate finance, banking or accountancy.” And, of course, our primary aim is to return these customers to our relationship teams in due course, so we continue to work together as we conclude the turnaround. We also need their insight to help us swiftly understand the key issues. “We need the help of the frontline relationship teams to identify businesses where we can bring value to the customer at an early enough point to make a difference. Working closely with Lloyds Bank’s relationship teams across the UK is also a prerequisite for turnaround success, Gary insists. Our teams are able to draw on expertise from across the Global BSU and apply it with local insight.”
“It’s important to us,” he says, “to be able to provide local solutions to local businesses. Working in line with Lloyds Bank’s commitment to supporting customers through all points in the economic cycle, the unit has helped to turnaround 10,000 businesses – and protect more than 250,000 jobs – since 2009.
Part of the Bank’s 1,200-strong Global Business Support Unit, Gary’s BSU team of 64 is regionally-based across the UK and focused on the turnaround of mid-market firms. Right now, we’re seeing that in terms of the number of businesses referred to us and in the average length of stay of those businesses in our care,” states Gary Wright, Director, Lloyds Bank’s Mid Markets, Global Business Support Unit (BSU). “One of the inevitable consequences of the financial crisis has been businesses facing more difficulties than they would normally. Gary Wright, Director, Lloyds Bank’s Mid Markets, Global Business Support Unit, explains the key role his team plays in safeguarding the UK’s economic future. Since 2009, Lloyds Bank’s dedicated Business Support Unit (BSU) has successfully restructured more than 2,000 businesses.
0 kommentar(er)
