Lloyds Merges Trading, Underwriting Desks to Form Markets Team

Lloyds Banking Group Plc is forming a new global markets division, in the latest reshuffling of the London-based lender’s corporate banking business.

The unit will be composed of the firm’s trading, financing and corporate sales teams, according to a memo to staff seen by Bloomberg. The division will be led by Rob Hale in London and Bill Mansfield in New York from February, the memo said.