Rupert Hume Kendall made the most of his close relationship with Lloyds Banking Group this week – when he helped the UK bank sell down part of its stake in its listed wealth manager.

The chairman of Bank of America Merrill Lynch's global corporate and investment banking for Europe, the Middle East and Africa was the lead banker on Tuesday's sell-down of a roughly 20% stake in St James's Place - a FTSE 250 company with a market capitalisation of £2.6bn and £34.8bn under management. The share sale raised around £520m.