Ian Fitzgerald To Head Loan Market Association

LONDON (Reuters) – The Loan Market Association (LMA), the trade body representing the syndicated loan markets of Europe, the Middle East and Africa has elected Ian Fitzgerald of Lloyds Bank as chairman, the association said on Monday.

Fitzgerald, managing director and head of loan syndicate at Lloyds Bank (LLOY.L) is also acting interim head of capital markets at Lloyds.

The number of vice chairmen was increased from two to four and Richard Basham of Citigroup, David Fewtrell of HSBC, Nick Jansa of Deutsche Bank and Richard Munn of Oak Hill Advisors Europe were elected.

Bank mergers and failures opened up several new positions on the LMA board and eight members stood for election as directors.

Charles Bennett of Credit Suisse, Roland Boehm of Commerzbank, Edward Brown of ING, Francesco Carobbi of the Bank of Tokyo-Mitsubishi UFJ, Justin Conway of Goldman Sachs and Zak Summerscale of Babson Capital Europe were elected directors.

The board will hold its first full meeting in September, according to the LMA.

The position of chairman had been vacant since the end of January when David Slade resigned following his departure from Credit Suisse. Slade held the position of Chairman for 18 months after his election in July 2007.

The LMA was formed in December 1996 with the objective of encouraging the development of the secondary loan trading market but subsequently expanded its activities to embrace all aspects of the primary and secondary syndicated loan markets. (Reporting by Tessa Walsh; Editing by Jon Loades-Carter)