Lloyds' US expansion continues as Schaeffer joins from Natixis

Lloyds' US expansion continues as Schaeffer joins from Natixis

Lloyds Bank took another step forward in its US expansion, announcing the hire of Andy Schaeffer as head of North America financial markets.

The move follows a string of hires in credit markets, as well as the transfers of Wesley Fallan and Parker Russell from London to head bond syndicate and ABS respectively in New York.

Schaeffer joins from Natixis, where he was head of credit platform. This role in turn has been partly filled by internal promotion from the structured credit division, with Kevin Alexander becoming fixed income head.

Schaeffer will report to Mark Grant, CEO commercial banking North America and regional manager for the US, and Richard Moore, global head of financial markets.

David Bee, who has been head of offshore markets at Lloyds in New York, will return to London as head of institutional FX sales and wealth solutions, reporting to Adam Barrett, head of institutional sales.

Lloyds has around 300 people in its US operation, and plans to add around 40 more, mainly in distribution. Its wholesale operations will focus strictly on UK-related business, such as British firms that want to issue dollar debt or have US subsidiaries, or US firms wanting to raise sterling or European currencies or finance their UK subsidiaries.

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