Lloyds TSB is targeting wealthy expats working in east Asia with the opening of its first Chinese representative office in Shanghai. A ne...

Lloyds TSB is targeting wealthy expats working in east Asia with the opening of its first Chinese representative office in Shanghai. A new team has been hired for the office which will be headed up by Nick Harrison, who has been based at the bank's Hong Kong regional office since 1998. Lloyds has also hired Cindy Wu from Standard Chartered in Shanghai. Lloyds TSB has had an Asian presence since the 1970s. Expats are targeted by offices in Hong Kong, Singapore and Malaysia. Separately, Lloyds’ Jersey-based offshore banking division has been licensed to operate as an authorised company in Dubai which means that it can now offer wealth management services to Dubai residents as well as to expatriates.