Big hitters help to increase activity

Jun 25 2008 by Peter McCusker, The Journal

ADRIVE to improve its profile and increase its level of business activity in the region’s corporate finance markets has been hailed a success by one of the big four banks.

Two years ago Lloyds TSB Corporate Markets employed just three full-time North East-based staff but since it renewed its focus this number has risen to 15.

In October last year it poached Mike Mullaney from the Royal Bank of Scotland to head the team, which provides financial banking and advisory services to businesses and organisations with a turnover of £15m and above.

Mullaney, director and head of corporate markets for the North East, has 25 years’ experience in banking and had been director of Mid- Corporate Banking in the North East for RBS.

He has wasted no time in adding some serious hitters to the team including Stephen Carmichael, who was appointed as a North East director. Carmichael had been voted the Insider Dealmaker Corporate Banker of the Year for the North East of England in 2007.

Gary Chapman was also appointed as a North East director. He joins Lloyds TSB from the London office of BDO Stoy Hayward LLP, where he was a director in its corporate finance lead advisory team.

Mr Mullaney said: “We are delighted that, in terms of new banking mandates won, 2008 has seen a continuation of the positive momentum seen over the past couple of years, during which LloydsTSB has seen its client base increase markedly.

“This has resulted in a significant increase in frontline resource, including our corporate finance team, which in turn is providing us with the opportunity to enter into meaningful strategic dialogue with clients, non-clients and the professional community across all geographies and industry sectors.

“Today, we believe that we provide some of the most accessible and supportive services of any bank, a view reinforced by us being voted Corporate Bank of the Year by finance directors for the fourth successive year in 2008.

“We play a leading role in the busy economy of Newcastle, but we also serve some vibrant businesses in Teesside, and our reach extends up into North Cumbria as well.

“In addition to core banking, specialist products and services include asset-based lending, structured finance, acquisition finance, capital markets, international trade finance and risk management on interest rates, inflation, foreign exchange and commodities.”