Lloyds TSB finalises review as bank shakes up post-merger legal team
A raft of top City law firms have secured positions on Lloyds TSB's revamped legal panel, with property boutique Forsters landing a first-time appointment to the roster. Allen & Overy, Norton Rose, Linklaters, CMS Cameron McKenna, Lovells, Eversheds and Denton Wilde Sapte have all been re-appointed to the bank's main panel. The firms learned of their reappointment before Christmas after the bank kicked off its review the previous month. Forsters has won a spot on the retail bank's main panel as well as the real estate finance sub-panel, which is one of around 15 operated by the bank. It is understood that Herbert Smith has been appointed to at least one of the sub-panels.
January 15, 2009 at 12:31 AM
2 minute read
A raft of top City law firms have secured positions on Lloyds TSB's revamped legal panel, with property boutique Forsters landing a first-time appointment to the roster. 
Allen & Overy, Norton Rose, Linklaters, CMS Cameron McKenna, Lovells, Eversheds and Denton Wilde Sapte have all been re-appointed to the bank's main panel.
The firms learned of their reappointment before Christmas after the bank kicked off its review the previous month.
Forsters has won a spot on the retail bank's main panel as well as the real estate finance sub-panel, which is one of around 15 operated by the bank. It is understood that Herbert Smith has been appointed to at least one of the sub-panels.
The review comes as Lloyds prepares to complete its takeover of HBOS. The internal structure of the combined legal team is under review, with Harry Baines already appointed as general counsel and company secretary of the merged group.
In addition to the appointment of Baines, who was previously head of legal at HBOS, the bank has also confirmed that Sue Harris will take a role as acting divisional finance and legal director of retail banking.
At the time of agreeing the merger Lloyds was thought to have a legal team of roughly 25 lawyers in London and HBOS around 50 in-house lawyers. Redundancies are expected to follow.
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