Lloyds Banking Group has made Tusker the sole salary sacrifice provider for all new group business.

Nick Williams, managing director transport, said the move was part of work to leverage expertise across Lloyds Banking Group’s brands

Lloyds, which acquired Tusker in February 2023 for £300m, previously offered salary sacrifice to customers through its Lex Autolease business. But moving forwards, Tusker – which remains a standalone business – will exclusively handle all sal-sac business.

The move recognises Tusker’s strengths as a market leader in the car benefits sector. The car benefits specialist has more than 20 years’ experience and continues to see rapid growth with over 1.5 million UK employees able to access electric vehicles and ultra-low emission vehicles via its salary sacrifice schemes.

The banking giant added that Lex Autolease will continue to support its existing salary sacrifice customers and will be the primary Business Contract Hire and Personal Leasing provider for the group.

Nick Williams, managing director transport, Lloyds Banking Group, commented: “Through Tusker we are now able to offer businesses and enterprises a market-leading salary sacrifice scheme that will both improve their benefit packages and help them to transition to net-zero.

“As we continue to expand our Transport business, we are committed to leveraging the expertise across our brands to offer access to affordable electric vehicles.”