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Banking giant Barclays has named the former general counsel of Pittsburgh-headquartered PNC Financial Services Group, Bob Hoyt, as general counsel.
Hoyt will take up the role in mid-October and will report directly to group chief executive Antony Jenkins. He succeeds general counsel Mark Harding whose intention to retire was announced in February.
The bank said Harding will exit after ”an appropriate handover period”.
Hoyt joined PNC in 2009, leaving his role as GC at the US department of the Treasury and as special assistant and associate counsel to the White House.
Barclays deputy general counsel Michael Shaw was previously understood to be leading the race to replace Mark Harding as the bank’s legal chief.
He was considered for the group general counsel role, as was Judith Shepherd, global general counsel for corporate and investment banking.
Headhunters have been compiling lists of options from rivals or private practice over the last few months, despite the general opinion previously being in favour of an internal appointment.
Commenting on the appointment, group chief executive Antony Jenkins said: “Banking is a highly regulated industry, the legal matters we face are myriad and complex, and it was important that we recruited a strong leader to succeed Mark, to continue the development of a world-class function to help us manage these challenges. In Bob we believe we have found such a leader.”