The Acquisition Finance team at Lloyds Bank Commercial Banking has appointed Keith Green as a director to its mid-markets team, according to a statement. The team will grow to five directors with the hire.
In his new role, Green will originate and execute loans and high yield bond products across Western Europe to a range of private equity sponsors, as well as leveraged corporate borrowers. Green will report to James Ranger and Gary McMillan who co-head the mid-markets team.
Prior to joining Lloyds commercial banking group, Green spent 10 years in ING’s structured acquisition finance division.
Lloyds has been under pressure in recent years, selling assets and trying to bring investors back into the market. The banking group is currently taking spin-out TSB to the public markets, and has priced it below its own valuation in an effort to entice IPO fatigued investors.
TSB is valued at £1.3bn, less than the £1.5bn value of its assets, which is around the mid-point pricing range for shares. IPOs have been happening at a frothy rate both in the UK and US causing some market observers to note that the trend is unlikely to sustain itself over the long term.