Lloyds TSB Corporate Markets is expanding its structured trade finance (STF) offering. The bank will increase its participation in major global syndicated transactions as well as origination efforts within the local markets of its representative offices. The expansion reflects the bank’s wider investment in trade functions. In recent years, the bank has focussed on consolidating its cash and trade services into a one-stop-shop for customers by providing both cash management services and a suite of trade solutions for its core client base. STF at Lloyds TSB will focus on payment undertaking guarantee (PUGs), structured pre-export finance, commodity finance working capital and the provision of borrowing base facilities with the team divided into origination, execution, planning and credit. The STF team is currently led from London by Mario Mazzocchi, managing director and head of the business, and is spread across representative offices in Rotterdam, New York, Dubai and Sao Paulo. The team’s origination efforts will be led by Tim Hart, director of origination. Hart worked predominantly for French banks BNP Paribas and Calyon for much of his career, joining Lloyds TSB via Arab Banking Corporation, to head up the origination team.
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