Lloyds TSB has appointed Mark Preston as managing director of financial markets, succeeding Brian Milne, who is retiring at year-end after 30 years with the bank, a spokesperson confirms.
Preston, formerly CEO and head of investment banking at CIBC Europe, assumes his new position on December 6. Prior to joining CIBC in 1994, Preston was head of derivative interest rate trading at Chemical Bank Europe, following the 1991 merger with Manufacturers Hanover, where he had held a number of senior roles including head of interest rate derivatives and head of interest trading. Before MHT, he was an internal auditor at Chase Manhattan Bank.
Preston reports to Truett Tate, group executive director, wholesale and international banking. “I am delighted that Mark is joining the team. His experience and expertise will be instrumental in building our financial markets capability, which is central to the growth of our wholesale business,” says Tate in a statement.
Milne has been MD for financial markets for the past 18 years.