HBOS legal chief handed post-merger GC role

HBOS legal chief handed post-merger GC roleLloyds TSB Group has appointed HBOS legal chief Harry Baines as general counsel of the company that will result from the banks’ union.

The transfer of Baines comes as Lloyds TSB unveils the new-look management team that will lead the bank following its take over of HBOS.

Baines joined Halifax as company secretary in 1999, leading the legal team following Halifax’s merger with Bank of Scotland in 2001. Before that, Baines was head of legal for vehicle parts maker Turner & Newall.

Sir Victor Blank, chairman of Lloyds TSB, said the bank had been able to assemble a leadership team with “depth of experience and expertise” from within both Lloyds TSB and HBOS.

“I can say in all confidence that the new organisation will be led by an exceptionally strong team,” he added.

The appointment of Baines is subject to formal approval by the Financial Services Authority and will become effective once the merger with HBOS finally completes.

Linklaters is advising Lloyds TSB on the deal, with Allen & Overy drafted in by HBOS.