WestLB has bolstered its European debt financing business in expectation of an uptick in mergers and acquisitions, the latest step in a restructuring at the state-owned German bank ahead of its split into a so-called 'good bank' and 'bad bank' in May.

Renaud Tourmente, who previously put together structured and leveraged finance deals at WestLB, will head the London-based business, alongside Harvey Hoogakker, Ada Cerne and Cyril Derveloy as senior bankers in a team of 13. All five have come from other areas within the bank.