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Lloyds TSB Corporate Markets has appointed Mark Stokes as managing director for the bank’s new, large corporate division with responsibility for fast growth companies and large corporate businesses with turnover above £15m.  The appointment to this new directorship reflects the continued growth and investment within Lloyds TSB’s corporate relationship banking arm.

Recognising the specific needs of the large corporate sector, the new division will provide the necessary expertise and sector specialism to a portfolio of 13,000 corporate clients with total assets in excess of £10billion, equivalent in size to a FTSE 250 company.  The announcement follows a major study into the needs of mid-corporates conducted by Lloyds TSB Corporate Markets which found that banking and financial requirements began to change significantly when turnover climbed above £15million.

Central to the increased drive to support larger businesses are Stokes’ plans to expand the bank’s network of local offices and increase the number of relationship managers serving the mid-corporate market.  Crucially, for businesses across the UK, this will mean improved access, locally, to expertise in capital markets, treasury services, international trade services and debt and equity finance.

Lloyds TSB Corporate Markets has enjoyed strong growth in the past 12 months with income growth in this particular turnover bracket up 30 per cent in 2006.  This increase in turn reflects growing numbers of new customers moving to Lloyds TSB and a rise in the take up of new products and services from existing customers.  These achievements were recognised at the recent CBI and ‘Real Finance’ magazine, Finance Director’s Excellence Awards, where Lloyds TSB Corporate Markets was voted Bank of the Year for the third consecutive year.

Commenting on Mark’s appointment, Diana Brightmore-Armour, CEO, Corporate Banking and co-head of Corporate Markets, said: “The creation of this new division reflects our continued commitment to UK businesses.  Our market leading relationship banking service grows ever stronger and we continue to adapt our business to the evolving needs of our customers.”

Mark Stokes, new Managing Director of the Large Corporate Banking business of Lloyds TSB Corporate Markets, said; “Most mid-corporate banking services have a minimum turnover requirement of £25million.  By extending our own offering down to £15million turnover we’re making it easier for businesses to access our relationship-based service and market leading products at a critical stage in their lifecycle.”

Mark will also be responsible for introducing specialist support to fast growth businesses which often look to attract funding outside of the traditional bank debt model.  Focus will be given to delivering bespoke and increasingly flexible finance packages that meet the specialist requirements of these businesses.

Stokes continues: “We spoke to the market and found that many issues requiring more sophisticated approaches such as complex financial management, international trading and fundraising options were increasingly prevalent at this level.”

In total, the bank’s mid-corporate offering will now be delivered from more than double the number of offices, including 10 new sites in major towns and cities including Southampton, Nottingham, Crawley and Exeter.  The number of relationship managers focussing on this sector will also increase significantly.

Stokes concludes: “Our approach is all about anticipating our customers’ requirements and leveraging our full range of solutions via more offices, more relationship managers and more product specialists on their doorsteps.”

Mark has a wealth of experience across a wide range of corporate finance roles most recently as managing director of Lloyds TSB Commercial Banking.  Previous roles with Lloyds TSB have included CRM director at the bank’s Asset Finance division, strategy deployment director with Wholesale & International Banking and sales director for the Group’s Financial Markets division.  Prior to joining Lloyds TSB, Mark worked as an executive director of Chartered Trust plc.