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Lloyds Readies Sale Of German Insurer: Source

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Lloyds Readies Sale Of German Insurer: Source

Wochit 0:47 mins

Lloyds Banking Group is readying a sale of its German life insurance business, as the British state-backed bank exits overseas markets to focus on lending at home. A U.S. banking regulator's probe into JPMorgan's hiring practices in China will have rival banks scrambling to review their own records, lawyers say. Banks around the world commonly hire people with government connections, but this is especially prevalent in China because of the Communist Party's role in the country's business. Ties to political and business leaders can be key to winning big deals.

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