The head of one of Britain’s biggest law firms is quitting to take up a new role at Lloyds, in a move that surprised the banking and legal worlds.
Simon Davies, managing partner at Linklaters since 2008, will join Lloyds Banking Group from January in a newly created role as chief people, legal and strategy officer, reporting to António Horta-Osório, the chief executive.
Mr Davies will be slotted in above existing divisional heads, including Kate Cheetham, who was promoted to general counsel two months ago.
Analysts said the decision to create such a senior role bringing together human resources, legal issues and strategy could turn out to be “innovative”.
One lawyer said the traditional role of general counsel was changing as banks moved away from