BEN Thomson, one of Scotland's leading investment bankers, yesterday put a marker down in his ambition to buy up TSB from Lloyds to create an independent Scottish financial institution.
The former chief executive of the Noble Group broke cover to tell The Scotsman he would be interested setting up a new stand-alone Scottish bank.
The prospect of a European Commission-enforced sale by Lloyds Banking Group of its 185 Lloyds TSB branches in Scotland had sparked speculation he might be involved in putting together a consortium of senior Scottish businessmen to bid for the branches, creating a genuinely Scottish "TSB Scotland" out of the ashes.
Last night, he told The Scotsman: "I would like there to be more Scottish banks and more Scottish business people involved in them going forward.
Read analysis by Bill Jamieson here"It would be nice to think that we could do a Scottish deal. And that would be something that I could well see myself getting involved in."
He went on: "While I have not had any immediate talks about the Lloyds TSB situation, these are very early days – the banks will be given four years to make these divestments.
"I have been speaking for months on the case for the big banks selling off their investments and peripheral activities and creating slimmed-down, stand-alone 'narrow' or utility banks."
Mr Thomson was one of the few figures on the Scottish business scene to warn of the adverse competition policy implications of the takeover of HBOS by Lloyds, and he worked behind the scenes last year on the legal challenge to the deal, along with property developer Mark Shaw and prominent Scots architect Malcolm Fraser. The appeal by the Merger Action Group was vigorously opposed by Business Secretary and former EU commissioner Lord Mandelson.
The proposal to have a stand-alone Scottish bank has been welcomed across Scotland's business and political groups.
Labour's John McFall, chairman of the Commons Treasury committee, said he would support a Scottish consortium creating a Scottish TSB. "This would be something which, in light of the demise of RBS and the Bank of Scotland, would be a welcome step and it would be something positive and tangible arising from the ashes," he said.
There was also strong support from Scottish Liberal Democrat leader Tavish Scott, who backed The Scotsman's campaign questioning the Lloyds takeover of HBOS.
"For many years, Scotland dined out on its banking reputation, but recently it has not even been able to go to the fish and chip shop on it," he said. "This would help restore some pride and self-confidence."
The Scottish Government refused to commit itself. A source close to finance secretary John Swinney said: "We need to see more details."
But Conservative economy spokesman Gavin Brown said: "There is a concentration of players in Scotland that makes it even more highly concentrated than south of the Border, so if an independent bank is going to come forward and is a viable option, it should be welcomed."
Meanwhile, two of the figures who fought hardest against the Lloyds-HBOS merger have given their backing to the "Scottish TSB" proposal.
HBOS's former deputy chairman Sir Peter Burt said: "I wish them luck. It will not be easy to create a stand-alone Scottish bank, but it would certainly be good for Scotland."
Former Merger Action Group member Mr Fraser said: "This is precisely what we were calling for last year. I am glad the UK government is finally coming round to our view."
Ben Thomson: High-profile head of key think-tankOVER the last two years, Ben Thomson has become an increasingly high-profile and influential figure in Scottish politics and business.
The 45-year-old is head of the centre-right think-tank Reform Scotland, where he works alongside former Conservative candidate Geoff Mawdsley.
The think-tank has produced controversial papers on a range of subjects including the economy, health and education.
One of its most reported suggestions was for Scotland to adopt a Swedish-style system which allowed people to set up their own private schools with state funds.
It also surprised many by producing a paper on the next stage of devolution, which called for far more fiscal powers to come to Scotland, giving Holyrood its own Treasury.
Mr Thomson is also known to be a close confidante of First Minister Alex Salmond and was the eminence grise behind attempts earlier this year to find a Scottish buyer for the stricken Dunfermline Building Society.
He is chairman of investment bank Noble and has been appointed chairman of the National Galleries of Scotland.
His name has been linked with the takeover of several companies in Scotland and Mr Thomson was closely involved in the appeal against the Lloyds TSB takeover of HBOS to the Competition Commission Tribunal late last year.
He backed attempts by the Merger Action Group to stop HBOS being bought by Lloyds.
