UK financial services giant Legal & General Group has named Maria Alvarez-Scott as its next general counsel, replacing 27-year veteran Geoffrey Timms who is standing down later this year.
Alvarez-Scott is currently deputy group GC and GC of its insurance businesses. She will take on responsibility for all legal matters impacting the wider group. She starts her new role as GC and company secretary in May, reporting directly to group CEO Antonio Simões. She will also sit on the group management committee.
Simões said: “Maria is an exceptional legal practitioner and leader, with deep knowledge of L&G’s business, strategic context and culture. She will be a fantastic partner to the management team and board as we drive our next phase of growth.”
Alvarez-Scott has been at Legal & General since 2009, joining as an in-house solicitor covering employment and then working her way up to deputy group GC via various roles including head of legal for employment and disputes, and GC for risk, digital and global operations.
She started her legal career at legacy firm Maclay Murray & Spens, which later became part of Dentons.
She said: “I am delighted to be taking leadership of L&G’s talented legal and cosec teams, who are rightly regarded as some of the best in the business. At a critical time for the delivery of the group’s strategy, our expertise, support and advice will be central to achieving our ambitions. Geoffrey has built a very strong legacy, and I’d like to thank him for all his guidance and support throughout our years working together.”
Timms will step down on 21 May after the group’s annual general meeting, bringing to a close a career at Legal & General that has lasted 35 years, 27 of them as GC.
Simões said: “Geoffrey has been central to building the great business that L&G is today, helping us to navigate economic turbulence, driving strategic acquisitions and forging some of our most important partnerships. He steps down with our very best wishes and gratitude for his outstanding service over more than three decades.”
Simões is the fourth group CEO Timms has worked alongside, as well as five chairs.
Timms said: “I have had a brilliant time at L&G, in particular being its general counsel for 27 years and I am now looking forward to new challenges. I am delighted to be handing over to Maria who I know will support the business to further strength and success.”
In other recent finance moves, earlier this month the US Securities & Exchange Commission hired former BlackRock lawyer Russell McGranahan as GC, replacing acting GC Jeffrey Finnell. And last month, crypto business MoonPay hired acting US Commodity Futures Trading Commission chair Caroline Pham as chief legal officer.
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