Deutsche Bank's general counsel Richard Walker will retire at the end of the year as Standard Chartered has hired a new deputy general counsel.

Deutsche said that Walker, who has come in for criticism over his handling of the Libor scandal at the bank – in which it was handed a record fine – was leaving the bank at his own request.

Walker will be succeeded by Simon Dodds and Christof von Dryander, who have been deputy general counsels since 2013, Deutsche Bank said.

He will become a senior adviser to the bank in the role of vice chairman and remain on the executive committee.

Walker joined the German bank in 2001 as a general counsel from the US Securities & Exchange Commission (SEC) where he worked as director of the division of enforcement.

He led Deutsche Bank's legal department while the company and other banks were fined billions of dollars for their roles in the Libor scandal.

In January last year the German financial regulator criticised Walker's handling of the scandal. Walker – alongside then compliance head Andrew Procter – was highlighted as an example of the board's failure to bring cultural change to the bank following the scandal, after he was promoted to the group executive committee in 2012.

In April this year Deutsche was handed a record $2.5bn (£1.7bn) fine for its role rigging Libor, with the bank turning to Slaughter and May, Paul Weiss and Hengeler Mueller for advice.

Walker helped the bank "navigate exceptionally challenging times" during his 14 years as general counsel, Deutsche Bank said.

Walker also spearheaded the bank's latest panel review, which concluded in June. The review, which kicked off in August 2014, has seen a host of firms win roles, including US outfits Mayer Brown and Latham & Watkins.

Last month the bank reported rocketing litigation costs of €1.2bn (£846m) in the second quarter of 2015, more than double the figure for the same period last year.

The news comes as other banks reshuffle their legal teams.

Standard Chartered announced today that Duncan Wales will join the bank in September as deputy general counsel. He will join from ICAP, where he has been group general counsel since 2008. He will report to David Fein, group GC.

Last month, JPMorgan Chase announced that Stacey Friedman, chief legal adviser at the corporate and investment bank, will become company-wide general counsel early next year. She succeeds current GC Steve Cutler, who has been appointed vice chairman of the bank.