The merger of Norddeutsche Landesbank (Nord/LB) and Bremer Landesbank (BLB) has claimed another victim.

Bjorn Nullmeyer, head of ship finance at BLB, is getting ready to leave the combined bank.

He is understood to have turned down the offer of a move to Singapore, where he would have undertaken a new role for Nord/LB, a spokesperson confirms.

The development is the latest change at the top of ship finance desks to coincide with the merger of Nord/LB and Bremen-based BLB on 1 September.