Lloyds Banking Group is planning to hire around 35 staff to service corporate customers with access to debt through capital markets.

A source close to the bank told Recruiter that the roles, which would be filled over the next 12 months, were at all levels of seniority.

The recruitment drive reflects the move away from companies using borrowing as a source of funding towards greater reliance on capital markets.

The source says that reports in yesterday’s Daily Telegraph that the bank, which is 41% government owned, is making “inflationary offers to poach City high-fliers” are incorrect.

Anjelic Kumedzina, a senior consultant at Goodman Masson, who heads up the team working on the Lloyds account, told Recruiter she didn’t recognise these 35 particular roles.  However, she says Lloyds “has a substantial ongoing requirement for staff”, adding that the bank recently released 50 vacancies to Goodman Masson for one particular project.

Bill Haynes, managing director of banking and finance recruiter Verridian, told Recruiter: “Lloyds’ plans are consistent with those of the other major banking groups who are resourcing themselves up.

“We are seeing positive growth at all levels of the market, irrespective of whether it is retail or investment banking.”