Lower Back Pain And Cloudy

Manualillos for a crisis (1)

Los tiene bién puestos y mira a....futuro!

Un Modelo a imitar por los españolítos....já,já,já

Menudo estreno ha tenido el portugués más popular de la City londinense, Antonio Horta-Osorio como consejero delegado de Lloyd´s Banking Group. En su primera presentación de resultados ha recibido la embestida más cruel de los mercados: un desplome del 5,52% en la bolsa de Londres y un 7,3% en Nueva York.

No en vano, Horta-Osorio has rolled up to sweep the dust of the balance of Lloyds. A 'broom' of 3,200 million pounds in reserves has led the agency to return to losses of 2,440 million in the first quarter.

Portuguese felt that we had to prepare for possible claims by poor sales of consumer credit insurance during the era of his predecessor, Eric Daniels. Furthermore, it has been joined by rising defaults (500 million pounds) due to the difficult situation facing the Irish economy.

But the decision of former golden boy of Santander is more poignant for the City of London if one considers that expectations were best and has been a foreigner who has had to put the knife back in one of the leaders of the UK financial tradition.

analysts London Nail

The controversy is served and among analysts in the British capital is a difference of opinion. On one side are those who supply discounted a considerably lower, given that Citigroup estimated at 4,500 million pounds the cost of poor sale of PPIs for the entire industry.

"Given that Lloyds controls a third of this market, 3,200 million pounds of supplies is in the best, very conservative" say from FT Alphaville.

However, what Horta-Osorio wanted to obviously is throwing away all the ballast resulting from the previous administration. In fact, from The Guardian claim that the losses and provisions are still following the merger with HBOS.

In this sense, the British daily commitment to the direction taken by the newcomer. "Despite the fall in share price today," say industry analysts, referring to "no doubt that today's announcement marks the end of the bad news that has come from the body of HBOS in the past eighteen months."

Last November, Lloyds announced the signing of Antonio Horta-Osorio CEO to be incorporated as of March. Thus, the left bank of Emilio Botin Leon without his man in the UK, the same who had managed to extend the Santander brand throughout the islands.