Top Barclays treasury expert jumps ship for Lloyds

After more than two decades at Barclays, head of financial institutions Allen Appen has made the leap to rival bank Lloyds.

Appen will head up Lloyds’ financial institutions capital and asset-backed solutions business, which was formed earlier this year. His appointment follows a string of high-profile hires, including debt capital market bankers such as UBS’ Rob Ellison and Eva Porz, and former co-head of Citgroup’s financial syndicate, Keval Shah.

“With Allen’s appointment, this business will now include FI DCM, creating one single focal point for all FI capital solutions businesses,” said Lloyds.

“Allen brings a wealth of FI experience and is particularly well known to many European treasurers and CFOs,” added James Garvey, head of capital markets, to whom Appen will report. “Alongside other recent hires, this marks an important step in continuing to develop our FI franchise to enhance the services we provide to this important client base.”