Lloyds Banking Group is trebling the size of its corporate restructuring division, according to a report in The Mail on Sunday.

This is in anticipation of a big rise in the number of companies on its loan books, says the report.

Commenting on the story, Jake Warren, director of finance and banking recruiter Grainger West, told Recruiter.

“The market has moved within the last 12-18 months, from a lot of deal-orientated and M&A work to restructuring both at an operational and a financial level. Deals that were undertaken in previous years are now having got be restructured.”

Warren says that Lloyds may have difficulty finding the people it needs depending on how flexible it is prepared to be in who they hire. 

“If they accept people who are moving across from M&A, transactional services, or leveraged finance, in those circumstances there are lot of people out there.

“But if they are looking for a managing director and directors that could prove more difficult, as everyone is looking for people with several years’ restructuring experience.”