A group of millionaire investors, including insurance entrepreneur Hugh Osmond, have become the third group to submit a bid for the 632 bank branches being sold by Lloyds Banking Group.
Sun Capital has emerged alongside NBNK, the banking start-up founded by Lloyds of London chairman Lord Levene, and Co-operative Financial Services as a bidder for the Lloyds branches, the Telegraph reports. Sun Capital is understood to have spent 10 months developing its bid and already has management in place to take over running the new bank. Among the other businessmen connected to Sun Capital is Edward Spencer-Churchill, son of the Duke of Marlborough. Lloyds is expected to announce the final list of bidders for the branch sale within the next month and hopes to identify a buye...
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