Lloyd’s chairman says RBS in the same mess as Lloyd’s was
Lloyd’s Chairman Peter Levene has said “Lloyd’s, fifteen years ago, was the RBS of today,” Bloomberg reports.
The road to recovery is “very long, hard; you haven’t got a quick-fit solution,” he said.
The solution, he said was improving transparency about where risk is accumulating, centralising oversight of the activities of those risk-takers, and bundling old, impaired assets into a separate unit to free up capital.
