Lloyds Banking Group is revamping its legal department with 25 redundancies in the offing as it begins a consultation period with the in-house team. Philippa Simmons, the head of disputes, has left the bank after serving less than two years whilst the bank is considering outsourcing the majority of its high-volume litigation work. The bank has publicly said it is looking for to adopt a more streamlined and efficient operating model Its annual legal spend is in the region of £400million.
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