I reported last time on the cost management approach that we had implemented. This is now maturing into a very effective process, bringing both detail and control to all aspects of our cost base. 14 dedicated cost management units, each responsible for a single type of cost, now review and control all costs and budgets on an end-to-end basis across all divisions and businesses reporting to a group cost board chaired by me.
Lloyds Banking Group Plc's CEO Discusses 2011 Results - Earnings Call Transcript
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