Lloyds to seek London office in cost-saving drive

London

LLOYDS Banking Group is in talks to lease a new London office with room for about 1,000 workers in an effort to consolidate its locations in the capital and help save 100 million pounds (S$178 million), two people familiar with the plan said.

The UK bank is in discussions with law firm CMS Cameron McKenna to lease about 100,000 sq ft of office space at the 125 London Wall building in the City of London financial district, the people said, asking not to be identified because the negotiations are private. The deal is not yet signed and other options could still be considered, the people said.