The former L&G employee, who moved to New Star as chief operating officer for property, returns to the firm to head up its property finance activities.
L&GP managing director Bill Hughes says Banks’ return has happened at the perfect time.
He says: “Banks is returning to L&GP at a time when we are seeing an increasing range of opportunities to develop the scale and scope of our business. His extensive experience of running a large finance team and knowledge of real estate markets and funds outside the UK will prove invaluable.”
Banks says he is ready to embrace the opportunity.
“I look forward very much to working with my colleagues as we drive the ongoing diversification of our offer and success of the business,” he says.
Banks will join the Board of LGP with immediate effect.