Corporate lawyers’ fears that Birmingham is losing its status as a major regional centre for private equity have been eased by a decision by Lloyds TSB Development Capital (LDC) to bolster its Midlands operations.

The shake-up at LDC sees the private equity house hire Bridgepoint Capital’s high profile director Martin Draper as a director in its Birmingham office and move the Birmingham-based Simon Dempsey to head its Nottingham arm.