Lloyds TSB and HBOS have already chosen two senior executives to help steer the integration of the two banks as they aim to close the deal as quickly as possible.

Chris Wiscarson, director of group IT & operations at Lloyds TSB, and Philip Gore Randall, chief operating officer at HBOS, are believed to be helping to plan the integration of the two banks. Deloitte, the consultants, have also been appointed to examine where potential synergies can be made in the combined group.

Lloyds renegotiated its allshare takeover of HBOS earlier this week and has already obtained competition waivers from the government to create a superbank that will have a leading share in mortgages, savings and current accounts.

Financial Times