The newly-formed role is within the UK bank's corporate and institutional business. Separately, two internal appointments have also been made in this side of the group.

Lloyds Banking Group has named former Investec senior figure Tangwena Nelson as managing director, head of asset and wealth managers – a newly-minted post by the UK lender.

The appointment has been made by the Lloyds Bank Corporate & Institutional Banking arm of the group. 

Nelson, who will join at the start of July, will be based in London, reporting to Lisa Francis, managing director, head of institutional coverage.

The bank wants to combine existing teams to support its asset manager and wealth client base, including hedge funds, wealth managers and pension funds.

The move is part of Lloyds’ plan to grow its institutional coverage franchise over the next four years.  

At Investec, Nelson was most recently head of financial institutions coverage, a position he has held since February 2022. He has more than 20 years of broader banking experience, having previously helped grow the leveraged finance businesses at BAML and Barclays prior to joining Investec in September 2017.

Lloyds has also made two internal appointments at its institutional coverage side: Carolyn Porretta has been name director, asset managers, reporting to Nelson when he arrives. In addition, Theresa Newell has been appointed director, head of group subsidiaries, reporting to Chris White, managing director, head of global banks.