Latham unfazed by Lloyds TSB shake-up

Former Fujitsu Services group counsel and company secretary Richard Allnutt resurfaced at Lloyds TSB as head of legal and commercial for group IT in January.

Allnutt’s arrival has alerted his former advisers at firms such as Baker & McKenzie, Barlow Lyde & Gilbert (BLG) and Pinsent Masons. At least Allnutt’s arrival would have alerted BLG if any of his advisers were still at the firm.

Those lawyers are now at either DLA Piper or Bird & Bird, both of which would be happy to steal work from Lloyds TSB’s regular IT counsel Latham & Watkins.

Latham London managing partner Andrew Moyle had close relationships with Allnutt’s two predecessors, but he’s unlikely to be bothered by the competition.

When Lloyds TSB was last swamped with IT work, Latham was asked to tender and Moyle put forward what he called “the non-compliant bid”.

Moyle suggested that, rather than outsource more work, Lloyds TSB should build up its in-house team. Which it duly did.

Allnutt is now the proud beneficiary of that policy, inheriting a team of 10.