Lloyds TSB International Private Banking has seen the loss of around twenty private bankers based in Miami, WealthBriefing has learnt.

The 20 bankers concentrate on the Latin American market and are thought make up the entire coverage of this market for the Geneva-based operation.

A spokesperson for the bank told WealthBriefing: “Private banking is a fast-moving industry and it is not uncommon for employees to move institutions. A number of our staff have decided to pursue other opportunities and leave our bank this week. Due to our broad geographical spread and deep talent pool, we have already assigned additional experienced staff to join the team in this transitional period, ensuring that our clients will continue to enjoy the same high quality service and expert advice that they have come to expect from us.”

At the time of publication, WealthBriefing was not able to establish where the team has relocated.