Lloyds bank has promoted Andy Schaeffer to CEO for North America. Schaeffer, who joined the bank's New York financial markets team in 2014 and became head of markets for North America last year, replaces Mark Grant, who is returning to London to run Lloyds' non ring-fenced bank, which includes its investment banking activities. Schaeffer will report to Grant. Wesley Fallan, previously head of US bond syndicate, will take over Schaeffer's DCM and loan syndication roles as head of the capital markets group for North America.
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