Those with risk jobs see banks fight split suggestions

A number of the UK high street's biggest financial services providers have spoken out against proposals that could result in them being split up.

Evidence given by representatives from the likes of Barclays, Royal Bank of Scotland and HSBC to the Independent Commission on Banking has argued against a division - which could see those in risk jobs in London split from other departments

According to the Financial Times, it should come as "no surprise" the banks have "pulled out all the stops" to defend the current system, where they do not have to ring fence their different divisions.

Lloyds argued that the UK was not uncompetitive when it came to the marketplace for money lenders, adding that product concentration levels are broadly in line with developed markets elsewhere in the world.

Chairman of the commission Sir John Vickers has voiced his support of structural reform of the current model, so long as it does not bring about an increase in risk.

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