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(Updates with further detail on Plehn reporting line)
By Anil Mayre
LONDON, May 14 (IFR) - Lloyds Commercial Banking has createdtwo separate teams within its capital markets group followingthe departure of its head of asset backed solutions, RobertPlehn, to GE Capital International. His new position at GE, ascapital markets leader, is effective July 1.
The UK bank says the creation of the two teams, called FICapital and Asset Backed Solutions and Corporate Solutions, willallow it to provide a more client-focused approach.
"As a result of Robert's decision, we have taken theopportunity to re-shape our structuring and solutions capabilityto ensure it is even more focused on delivering clients thehigh-quality services they need in these areas", said JamesGarvey, 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 andproduct solutions and strategic client solutions, reporting toGarvey.
The corporate solutions team is being expanded to focus oncorporate, real estate and infrastructure and energy clients,and will continue to report to Willett.
At GE Capital International, Plehn will be responsible forall capital markets activities for businesses across Europe andAsia Pacific, covering cash flow and asset-backed loan andleasing.
He reports to Rich Laxer, President and CEO for GE CapitalInternational, and functionally to GE Capital's global head ofcapital markets, Stewart Koenigsberg. Plehn replaces EllenBrunsberg, who has been appointed president of GE Real EstateEurope.
Plehn was with Lloyds for more than 10 years, heading theAsset Backed Solutions Group from 2011. Before that, he was headof the Capital Markets Debt Products Group and head ofsecuritisation and covered bonds.
Prior to Lloyds, Plehn headed ING Bank's securitisation teamand was a partner in Sidley & Austin's securitisation group. (Reporting by Anil Mayre; Editing by Philip Wright)
