It is barely 18 months since Mount Street emerged as a major player in the shipping loan market.

That followed its purchase in late 2017 of EAA Portfolio Advisers (EPA) — the portfolio management arm of "bad bank" assets formerly held by German state-backed lender WestLB.

The takeover saw Mount Street — a debt management firm formed by ex-Morgan Stanley executives — inherit a team of 90 WestLB bankers with offices in the City of London, Dusseldorf, Madrid and New York.