Lloyds" chief promises "seamless" switch to TSB LLOYDS Banking Group chief executive Antonio Horta-Osorio last night promised a "seamless transition" for customers moving over to the re-launched Trustee Savings Bank (TSB). Customers at 631 branches will be moved over to TSB, which will be officially launched on Monday before it is floated on the stock market. Lloyds is being forced to spin-out the branches by the European Commission after accepting a UK government bailout at the height of the financial crisis. TSB will be floated after a deal to sell the so-called "project verde" branches to the Co-operative Bank fell through. Horta-Osorio told the BBC: "The only change that customers will notice is the change of the name. If customers want, after the transaction is closed, they can close their accounts with TSB and move to Lloyds, or they can close their accounts with Lloyds and go to TSB. Horta-Osorio also praised the UK government's Help-to-Buy initiative and its Funding for Lending Scheme, which together he said were a "game changer for the British economy." He dismissed suggestions that the schemes were creating a fresh house price bubble. Horta-Osorio told Sky News: "This is a temporary scheme to correct a market anomaly." He added that it was up to the Treasury to decide when to sell its 39 per cent stake in Lloyds.