Lloyds Bank has announced the appointment of Christian De Monte (pictured) as its new managing director and head of insurance and group subsidiaries, effective September 2, according to a Funds Europe (FE) report.
As the new managing director and head of insurance, De Monte will be reporting directly to Lisa Francis, the bank’s managing director and head of institutional coverage. He will be based in London.
“This newly created role supports the business’ growth strategy for corporate and institutional banking, and he will oversee two teams, one which supports the bank’s insurance clients and the other which supports our group subsidiaries’ client base,” the FE report said.
In his new position at Lloyds Bank, De Monte will play a key role in developing the insurance division’s overall business strategy and will be managing relationships with Lloyds Banking Group subsidiaries, including Scottish Widows.
The report also said that the integration is aimed to “enhance collaboration and support the plan to grow the institutional coverage franchise over the next four years” as institutional investors have shifted back to “neutral,” based on the current State Street index.
The bank’s target is to increase its income, through institutional coverage, by over 20% over the next 4 years, the report added.
As he joins Lloyds Bank, De Monte brings with him over 16 years of experience in the banking industry to the company.
According to the FE report, before his appointment to Lloyds Bank, De Monte served as the leader of Morgan Stanley’s insurance debt capital markets and private-side insurance solutions franchise across the UK and Europe, a position that he held since 2015.
Commenting on his appointment De Monte said: “We have an opportunity to grow our institutional franchise and I’m particularly excited to help our insurance and group subsidiaries clients to fulfil their ambitions.”
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