Lloyds cuts junior lawyer jobs amid wider restructuring

Lloyds Bank has axed a handful of junior lawyer roles amid a wider restructuring of the group.

The cuts, which are group wide, come as part of a wider ongoing reorganisation that saw the bank scrap 1,755 jobs last month.

Lloyds announced in October 2014 that it would cut 9,000 jobs and shut 200 of its branches over three years.

At the same time, it is also preparing to announce new legal roles shortly. In February Lloyds said it would add 170 new jobs in retail and commercial banking and in its legal team, taking the net figure for job losses to about 1,585.

A Lloyds spokesperson said: “The group announced organisational changes in early February as part of the group’s three year strategy already announced in October 2014. As part of this, a number of roles were created in legal and a very small number of legally qualified roles were reduced. “

Further details about the exits and the newly created roles in the bank’s legal team are not yet known. Both are due to be announced in due course.

It is the second time in 12 months that Lloyds has restructured its legal team. In April, LLoyds announced that it was going to cut 25 lawyers from its litigation team in a bid to streamline its processes in light of increased regulatory scrutiny.

The bank has also reshuffled a number of its top legal roles in recent months.

In January, former Linklaters managing partner Simon Davies joined Lloyds in the newly created role of chief legal, people and strategy officer in January.

In September 2015, Lloyds hired Wilson Thorburn as its new interim GC for litigation, regulatory and compliance. Thorburn, who joined from JPMorgan where he was EMEA litigation head, replaces Michael Hartridge who left Lloyds earlier that year.

Meanwhile, in April last year, Lloyds’ group general counsel Andrew Whittaker left the bank after a two-year term, with deputy GC Kate Cheetham stepping up to the lead role

In the same month general counsel for group legal Hugh Pugsley left the bank to join HSBC as its UK GC.