by Dramelin 1:30 AM 0 comments

A spokesperson from Lloyds of London told CNBC on phone that the drivers of this decision are primarily wanting to reflect better working practices, not just in the City, but across workplaces in the country. "The move may be aimed at bringing about discipline among employees at Lloyds of London but it also sheds light on the strong drinking culture in the City. However, lunchtime drinking is also at the heart of industries like insurance, hedge funds, private equity, while investment banks that find it easier to grow relationships over an informal pint in a pub than in boardrooms. Will this impact business? "Sometimes to get a deal to go through you need a number of meetings with your client and we are talking about heavy volume deals here," a financial services professional working in one of the leading investment bank in London told CNBC on the condition of anonymity due to the sensitive nature of the topic.