British banking trade groups eye merger to bolster EU lobbying

A working group of banks that includes HSBC, Barclays and Lloyds said in a consultation paper released on 16 January 2015 that there were too many trade groups, leading to duplication of lobbying and a lack of strategic direction.

The paper went on to say that a single, federated trade association comprising an overall coordinating council would go a long way to effectively address current challenges.