Lloyds’ Credit Head Blasco Said Appointed to Money Markets Chief

Lloyds Banking Group Plc appointed credit-products head Juan Blasco to run its money-markets business, according to two people with knowledge of the matter.

Christophe Coutte, currently head of rates products, will assume responsibility for credit as part of an expanded role, said the people, who asked not to be identified because the changes are private. Blasco succeeds Rob Lloyd, who moves from the money-markets role to become the U.K. bank’s head of balance sheet and liquidity, two people with knowledge of the appointment said.

“This represents several new opportunities for our senior leadership team both within and beyond financial markets and our strategy remains unchanged,” the bank said in an e-mailed statement without commenting on any specific changes.

The moves come as two senior executives are set to leave the bank. Vikas Dabral, Lloyds’s head of foreign-exchange derivatives trading, will stop working for the lender, Ewan McCulloch, a spokesman for Lloyds, said by phone last week. Its head of foreign-exchange products, Anders Henrikson, is also leaving, two people with knowledge of the matter said last week.

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