Coutts in-houser joins Lloyds private equity arm

Lloyds TSB Development Capital (LDC), the private arm of the Lloyds Banking Group, has hired a former legal counsel from Coutts & Co, the Queen’s bank.

LDC has created a new role for former Coutts lawyer John-Paul Preston, who has joined the company’s legal and risk management team, currently headed by Andrew Sandars.

Preston, who has joined the comapny as its associate head of legal and risk management, said: “I’m looking forward to enhancing the investment momentum that the company has already achieved this year, having completed six transactions since January, which is usual in the current market.”

Prior to joining LDC, Preston was part of the in-house legal team at Coutts & Co where he reported to head of group legal Tim Bennett.