Lloyds restructures property lending unit

A new leadership team has been announced, led by Madeleine McDougall.

The commercial real estate business within Lloyds Bank Commercial Banking, which has been led by Madeleine McDougall since last August, has been restructured with a new leadership team announced.

Klaus Betz-Vais has been promoted within the business to take on McDougall’s former responsibilities as head of the Institutional Clients team, while Richard MacDowel takes over from Gabrielle Berring as head of the Major Private Groups team.

Betz-Vais and MacDowel were both existing senior members of the teams they now lead, having been in acting managing roles prior to their formal appointments.

“Since joining the bank in early 2015, Klaus has been instrumental in the development of the Institutional practice. This has included leading some of our landmark transactions of the past few years, such as the O2 Designer Outlet Village deal,” McDougall said.

The bank financed the designer outlet village at London’s O2 Arena in 2016, providing a £185 million (€210 million) facility, of which half was subsequently syndicated to Industrial and Commercial Bank of China.

“Richard has been one of the driving forces behind our pioneering Green Lending Initiative, which has deservedly won plaudits from across the industry for its role in rewarding and encouraging best practice in sustainability,” McDougall added.

By January, Lloyds had arranged around £900 million of lending to support firms prioritising sustainability. The scheme’s most recent financings in the UK have funded science parks, pubs and development.

McDougall also confirmed a restructuring of the leadership team, with the former Developers team and its clients being absorbed across the four remaining units: Listed Clients, Institutional Clients, Major Private Groups and Private Groups.

“Development is a core discipline for the majority of our clients and a major element of our lending programme. We’re proud of our track record here, supporting some truly landmark schemes. Most recently, this included being the lead arranger and a lender on a £390 million senior lending package for The Stage in East London,” McDougall said.

“Clients require a range of structures and products of which development finance is a key strategic component. We feel that embedding the extensive experience of structuring complex development transactions within the four teams will allow clients to access that expertise more widely and directly,” she added.

As a result of the change, the former Developers team head Graeme Alfille-Cook left the group to pursue new opportunities in December 2017.