Banks are "turning 180 degrees in their policies" and taking the wind out of the sails of alternative finance providers and arrangers, a Fearnley Securities executive said.

Debt advisory head Nicolas Duran said the investment bank's clients are starting to pull the plug on deals under discussion as bankers make more credit available for their preferred deals.

Nicolas Duran, partner and head of debt advisory at Fearnley Securities, is seeing alternative finance clients pull the plug on deals in favour of bank money.