Former Lloyds chief executive Eric Daniels has joined an advisory firm in the City which specialises in restructuring bank debt for companies in need of new financing.
Daniels becomes principal and senior adviser at StormHarbour, which was founded by Citygroup banker Antonio Cacorino in 2009. StormHarbour clients include banks and other financial institutions.
Daniels headed up Lloyds for seven years and oversaw the problematic merger with HBOS in 2008.
Speaking to the FT, Daniels says: “While I enjoyed every minute of my time at Lloyds, it was time for a change.”