Sean McGovern, presently head of finance and international, takes over as director of legal services on 1 April.
Current chief, James Butler, is leaving the insurance group to become head of legal at the internet bank Egg.
McGovern joined Lloyds three-and-a-half years ago from Clifford Chance, having qualified in 1994.
McGovern's will lead a team of 37 and plans to bring in a finance lawyer to fill the gap left by him and a new company and commercial lawyer.
Lloyd's main exterior law firm for litigation and big projects work is Freshfields, while Macfarlanes picks up the day-to-day project work. It is understood that McGovern has no plans to change this situation.
His appointment comes as Lloyds is poised to begin a bitter legal battle against a group of 200 names who claim the insurance group misled them.