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Lloyds Banking Group plans to operate three of its subsidiaries on the European continent following Britain's exit from the European Union, according to a knowledgeable source, alluding to the fragmentation of the banking sector more to secession after a long-term concentration in London. Lloyds, Britain's largest mortgage lender, was widely expected to operate on the European continent through a new unit in Berlin, but executives are now considering creating two additional customer service centers across the EU. Adding that this one is likely to be in Frankfurt, Lloyds' plans – a 250-year-old institution that has always focused its activities in Britain – show how the secession of the EU is pushing the banks to ignore history and business models to continue selling their products in Europe. 19659002] This is part of a broader trend that involves the allocation of bank resources after the separation of several cities from the continent, rather than concentrating the bulk of the operations in one place, as was the case in London. He said that he would adopt a "non-central" model in line with the measures taken by Goldman Sachs and Bank of America
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