Lloyds Bank has appointed a new head of trade finance who will spearhead a scheme to help small and medium-sized businesses (SME) in the region to boost their export plans.
Paul Smith, who has worked for Lloyds Banking Group for more than 31 years, will lead a team of 18 international business managers across the UK that are supporting businesses with an annual turnover up to £25m through the different stages of their international growth strategy.
He joins the global transactional banking team after a spell as area director for Lloyds in the North West and as a senior manager in the bank’s national risk management team.
He said: “Trading internationally is an important route to enable a business to secure new contracts and drive the long-term success of its business. We have a strong team in place to help firms across the UK deliver this growth.”
Lloyds has pledged to increase its trade financing facilities by 25 per cent in 2015.