LSE loses second head of legal in four months

The head of legal at the London Stock Exchange (LSE) has quit his post after being in the job for less than four months.

Steven Travers took on the role at the beginning of October 2000, but has now left the LSE for a career break.

His appointment followed the shock departure of former head of legal Allan Cameron for an unknown destination (The Lawyer, 2 October).

Travers will be replaced as head of the team by Catherine Johnson, an internal appointment from the LSE’s regulatory department. She was a lawyer at Herbert Smith, which is one of the LSE’s external law firms, before moving in-house in the mid-1990s.

Herbert Smith advised the LSE on its successful defence of an £800m hostile takeover bid by OM Gruppen late last year, and before that on its failed merger talks with Germany’s Deutsche Börse.

A spokesperson for the LSE says: “Last year was a pretty busy one for us, and for Steven in particular, so he’s just decided to take some time out to see what he wants to do next.”

The legal team at the LSE comprises around eight lawyers and undergoing a reshuffle as the LSE itself reorganises. It has recently appointed Clara Furse as a new chief executive, who is a former deputy chairperson of the London futures exchange Liffe.

Furse replaces Gavin Casey, who quit last September amid criticism of the LSE’s strategy following the failed Deutsche Börse merger.