(Updates with further detail on Plehn reporting line)
By Anil Mayre
LONDON, May 14 (IFR) - Lloyds Commercial Banking has created
two separate teams within its capital markets group following
the departure of its head of asset backed solutions, Robert
Plehn, to GE Capital International. His new position at GE, as
capital markets leader, is effective July 1.
The UK bank says the creation of the two teams, called FI
Capital and Asset Backed Solutions and Corporate Solutions, will
allow it to provide a more client-focused approach.
"As a result of Robert's decision, we have taken the
opportunity to re-shape our structuring and solutions capability
to ensure it is even more focused on delivering clients the
high-quality services they need in these areas", said James
Garvey, MD of the capital markets group
Andrew Willett will run the FI group on an interim basis,
alongside his current role as head of risk management and
product solutions and strategic client solutions, reporting to
The corporate solutions team is being expanded to focus on
corporate, real estate and infrastructure and energy clients,
and will continue to report to Willett.
At GE Capital International, Plehn will be responsible for
all capital markets activities for businesses across Europe and
Asia Pacific, covering cash flow and asset-backed loan and
He reports to Rich Laxer, President and CEO for GE Capital
International, and functionally to GE Capital's global head of
capital markets, Stewart Koenigsberg. Plehn replaces Ellen
Brunsberg, who has been appointed president of GE Real Estate
Plehn was with Lloyds for more than 10 years, heading the
Asset Backed Solutions Group from 2011. Before that, he was head
of the Capital Markets Debt Products Group and head of
securitisation and covered bonds.
Prior to Lloyds, Plehn headed ING Bank's securitisation team
and was a partner in Sidley & Austin's securitisation group.
(Reporting by Anil Mayre; Editing by Philip Wright)