Lloyds to merge trading and underwriting teams – report

Lloyds Banking Group volition signifier a caller planetary markets part by merging its trading, financing, and firm income teams, according to a papers seen by Bloomberg.

According to a memo to staff, the caller planetary markets part volition beryllium jointly led by Rob Hale successful London and Bill Mansfield successful New York, starting from February 2026.

The combined teams volition run crossed the UK, North America, and Europe to heighten collaboration and operational efficiency.

In the memo, Lloyds firm markets part CEO Carla Antunes da Silva said: “Together, they bring heavy expertise and volition guarantee stronger alignment crossed our cardinal hubs successful the UK, North America and Europe.”

She added that combining the teams would assistance the lender with “strengthening hazard and power accountabilities crossed the business.”

Bloomberg said that a spokesperson for Lloyds confirmed the contents of the memo.

As portion of the changes, Nick Hughes, who has been with Lloyds for 2 decades and astir precocious led the superior markets division, volition depart from the company.

In a abstracted announcement, Lloyds has appointed John Langley arsenic CEO of firm and organization banking, succeeding John Winter, who volition measurement down adjacent year.

Langley is acceptable to articulation successful March from Wells Fargo, wherever helium was astir precocious main operating serviceman for CIB and caput of Wells Fargo International.

Lloyds firm and organization banking (CIB) CEO John Winter said: “John Langley is joining a large squad astatine Lloyds with breathtaking maturation plans for CIB successful the coming years.

“I’m hugely arrogant of the advancement CIB has made during the past 4 years and look guardant to supporting John and the wider squad arsenic Vice Chair, CIB.”

According to the Bloomberg report, the Lloyds planetary markets part restructure is the latest successful a bid of organisational changes nether Lloyds CEO Charlie Nunn.

Nunn has been overseeing a multiyear overhaul of the bank’s exertion and has focused connected expanding into insurance, superior markets, and wealthiness management.

Lloyds has reported advancement successful these areas, with full income from the firm markets part rising by 54% since 2021, reaching £984m ($1.29bn) successful 2024.

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