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ProfilesApril 1 2015

Lloyds capital markets chief prepares for market uncertainty

With a general election just weeks away in the UK, Lloyds Banking Group’s James Garvey is preparing for an uncertain period in the country's capital markets. With Greece’s membership of the eurozone still in doubt, other political realities could derail issuance in 2015, while the bank itself is focusing upon reducing balance sheet risk. 
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Lloyds capital markets chief prepares for market uncertainty

James Garvey has ticked off a fairly extensivelist of banks in his two-and-a-half-decade career in the financial sector. Native to Ireland, he began work with Citicorp in 1987, then moved to UBS, West LB and Goldman Sachs before pitching up at Lloyd’s Banking Group in 2009 as head of capital markets and portfolio management.

In the six years since then, Lloyds has had to cut its cloth to quite a considerable degree. Following a bailout from the UK government and a merger with fellow UK bank HBOS, it has stepped back from global aspirations, and instead focused on UK markets, and UK clients.

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