One report, which was not immediately confirmed by Lloyds TSB, put the number of jobs being moved to Eysins from Geneva at around 340.
Lloyds TSB said its private bank’s client-facing teams will remain at the company’s historic Place Bel-Air 1 address in Geneva, but that those of its teams currently located in Geneva’s Route des Acacias building will relocate to a new, purpose-built property in Eysins.
Lloyds Banking Group is Britain’s largest retail bank. In Geneva, its private banking operation specialises in looking after the needs of wealthy individuals.
A Lloyds executive who is involved in the staff relocation said that the move would enable the company to give its employees who are moving out of Geneva a more modern and efficient working environment, while also permitting Lloyds TSB to refurbish the Place Bel-Air building.
Nyon is located around 25km east of Geneva, along Lake Geneva. Canton Vaud is described by an executive who lives nearby as home to many HNWIs, including hedge fund managers and the executives of Swiss-based multinationals. Cantor Fitzgerald, the New York-based financial services company, has an office in Nyon.
According to Lloyds TSB, its new facility will be in the Terre Bonne business park in Eysins on the edge of Nyon.
Putt to Geneva
In other Lloyds TSBPB news, Nigel Putt, who has headed up Lloyds TSB’s private banking operations in the Middle East out of Dubai for the past two years, is moving to Geneva to take up the new post of ultra-high net worth director of international wealth, following the Lloyds Banking Group’s consolidation of its international wealth management division in the city. Putt’s successor in the Gulf office was not named.
