HSBC Premier Account

trient

OT, but I wonder if Lloyds will shake up this market at some point. They have had a new offering in the works for what they call mass affluent customers since their 2022 strategy update, but funny enough they still seem to be hiring for the top job..

https://www.msn.com/en-gb/money/other/lloyds-controversial-plan-to-give-10-million-loyal-customers-a-second-rate-service/ar-AA165zNP

https://www.linkedin.com/jobs/view/3442239670

Marchitiello

trient said:

OT, but I wonder if Lloyds will shake up this market at some point. They have had a new offering in the works for what they call mass affluent customers since their 2022 strategy update, but funny enough they still seem to be hiring for the top job..

https://www.msn.com/en-gb/money/other/lloyds-controversial-plan-to-give-10-million-loyal-customers-a-second-rate-service/ar-AA165zNP

https://www.linkedin.com/jobs/view/3442239670

I would not be too hopeful for a market shake based on that announcement .. they are basically suggesting that they should be officially re-enter the “Premier” (£75-£100k income bracket) banking sector with a dedicated product as they are the only major bank that currently do not have one officially (it goes from normal retail banking to private). However they look to differentiating the service on actual customer “spend” with the bank rather than potential (like other banks Premier Products)

I said officially because whilst they have not “officially” a premier product/service, they have been assigning personal bankers to people in the above mentioned income brackets and more recently offered the access to Schroders Personal Wealth services (a joint venture between Lloyds and Schroders)