By Aimee Donnellan
LONDON, July 15 (IFR) - Lloyds Bank has named Farouk Ramzanas head of capital markets origination as it seeks to plug a gapleft by the departure of financial institutions DCM headChristoffer Mollenbach.
In this new expanded role, Ramzan will be responsible forthe group's corporate and financial institutions customers,credit ratings advisory and liability management services.
Ramzan's new role reflects the increasing importance of anintegrated DCM platform for the bank's financial institution andcorporate businesses, according to a statement released by thebank on Monday.
Coinciding with Ramzan's promotion, Lloyds has appointedDavid Carmalt as head of financial institutions DCM, taking overfrom Mollenbach, and he will report into Ramzan.
Carmalt will be responsible for expanding the bank'sfinancial institutions business, including increasing Europeanbond issuance for sovereigns, supranationals and agencies.
Lloyds has so far struggled to be represented on many of themajor euro deals in both the corporate and financial markets.
To address this situation, Lloyds has already recruited EvaPorz for a new structuring role as it hopes to capitalise on thebooming corporate hybrid and bank capital market.
James Garvey, managing director, capital markets at Lloyds,said the most recent appointments will help the bank develop aclear strategy across the DCM spectrum.
"Farouk and David's appointments reflect the success theyhave both had in their previous roles in building our DCMcapabilities and I would also like to thank Christoffer for hisgreat efforts and success during his time at Lloyds Bank andwish him every success going forward."
According to Lloyds, Mollenbach is leaving the bank toreturn to his native Denmark for personal reasons. (Reporting by Aimee Donnellan)
Lloyds (LLOY)