Lloyds’s TSB, which aims to complete its merger with rival UK bank HBOS on 19 January 2009, has announced its plans to re-brand its acquisition. But details of the impact this will have on the wealth management services of the enlarged company has not been finalised, a spokesperson for Lloyds TSB told WealthBriefing.

WealthBriefing understands that the UK banking group has been planning to rebrand its wealth management arm.

“Obviously, from a wealth management perspective we would be acquiring a very strong brand and as we make decisions on its future we will notify investors as quickly as possible,” the spokesperson said.

Bank of Scotland, Halifax and Lloyds TSB will all continue to operate on the high street once the acquisition is completed. The combined organisation will have the largest branch network in the UK. Work reviewing the other brands, including wealth management in the combined group's portfolio continues, the bank said in a statement. 

The Halifax brand and retail branch network will continue to operate alongside Lloyds TSB in England and Wales, following the merger. 

In Scotland, Bank of Scotland will be the banking brand used for retail and corporate business for the combined Group. Lloyds Banking Group will also have the largest branch network in Scotland.

"Lloyds TSB is committed to a multi-brand strategy for its banking business. We believe that our brands are the strongest in the UK retail financial services sector and we are very focused on growing and developing them. Lloyds Banking Group will have the largest," Eric Daniels, Lloyds TSB group chief executive, said.

The corporate banking business in England and Wales will continue under the Lloyds TSB brand. No decision has yet been taken about the use of the Bank of Scotland Corporate brand outside Scotland.