The bank said the move is to accelerate the start of the disposal process of a retail banking business in order to meet the obligations under the State Aid commitments.
Following this appointment, the Lloyds group will work with the appointed advisers to leverage their significant experience in funding activity and provide potential funding arrangements for the buyers of the Divestment Business.
Lloyds Banking Group chief executive Antonio Horta-Osorio said that the group made the decision to accelerate the start of the sale process in order that it met the timescales agreed with the Government and EU.
"There has already been considerable interest in the Divestment Business. Our advisers have significant M&A and relevant funding market experience. This will help to ensure a strong competitor enters the market over the next two and half years," Horta-Osorio said.
