Updated: Lloyds wealth team quits after bonus worries
A team of three from Lloyds TSB's Middle East and Africa private banking team based in Geneva have quit for SG Private Banking.
Chris Irwick, Amr Barakat and another junior member of the team have quit the UK bank, which is underwritten by the UK government.
Irwick, former head of the Middle East team at Lloyds TSB in Geneva, had spent around 25 years at the company, while Amr Barakat had been at Lloyds for about nine years, most recently as head of north Africa and a senior vice president.
The team are being replaced with Nigel Putt as head of private banking, Middle East, based in Dubai. The bank has also appointed David Tunbridge, who will lead the Middle East team in Geneva, and Nader Goodarzi who will become a senior relationship manager in the Geneva team.
Putt was most recently head of private banking for Dresdner Bank in Dubai, while Tunbridge was most recently managing director and head of private banking for Arab Bank Switzerland.
Goodarzi was previously head of wealth management at Ansbacher.
Earlier this week, Lloyds and the Royal Bank of Scotland signed a deal with the UK Treasury, agreeing not to pay cash bonuses for 2009 to staff earning more than £39,000 per year.
Lloyds declined to comment and SG Private Banking did not immediately return calls.
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