Société Genéralé has lost four members of its European leveraged finance team after a controversial reorganisation that has seen the balance of power shift to the firm's New York office.

The bankers who resigned include Rob Bonfield, a managing director who until last year was head of the London-based team. The two other senior bankers are Grant Gardner and Nathan Hawkes, both directors who have joined Bank of Ireland. Another junior banker is believed to be joining Barclays Capital.