Someone get Lloyds a coffee machine

The news spilling out of Lloyds Banking Group is coming thick and fast, with changes at the top of the legal hierarchy coming at the same time as the bank’s re-privatisation.

On Monday the bank named a new group general counsel with former M&A head Hugh Pugsley stepping into the role. This came less than a week after the bank filled its litigation head vacancy, appointing UBS Wealth’s disputes chief Philippa Simmons.

The group is yet to fill the top legal spot at TSB, recently carved out of Lloyds in preparation for the sale of the 631 high street branches. After all, there are other things to cross off the list first.

Top of the priority list this week was the bank’s share sale, which saw 6 per cent of its stock sold off. Slaughter and May and Freshfields Bruckhaus Deringer have taken lead advisory roles on the deal.

Pugsley and whoever takes up that vacancy at TSB will surely have a long to-do list of their own.

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