Lloyds Banking Group Plc (LLOY.L) has appointed U.S. banks JPMorgan Chase & Co (JPM.N) and Citigroup (C.N) to oversee the forced sale of 600 branches triggered by a bailout by British taxpayers at the height of the financial crisis. "There has already been considerable interest in the Divestment Business," said Antonio Horta-Osorio, whose first big move as chief executive of the British lender was to announce on March 1 that he was accelerating the sale. [ID:nLDE7200JN] Lloyds was told by European authorities in November 2009 it had four years to sell at least 600 branches, 4.6 percent of the personal current (or checking) account market and 19 percent of its mortgage book to limit competition distortions after taking a bailout.
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