Lloyds Banking Group has lined up Ajneet Jassey as its next chief legal officer, replacing Kate Cheetham, who announced she was stepping down in a LinkedIn post.
Jassey is currently general counsel for disputes and operations.
Cheetham said: “Ajneet will bring outstanding judgement, deep expertise and a real commitment to our people and culture. I know she will be an exceptional chief legal officer and that the legal and secretariat function will continue from strength to strength under her leadership.”
Jassey has been at Lloyds for just under six years, initially joining as GC for litigation and contentious regulatory. Prior to that she worked at the Bank of England, latterly as head of its compliance division.
She started her career in private practice at legacy Herbert Smith.
Cheetham, meanwhile, is retiring after more than two decades with the bank, having started out as a senior corporate solicitor at Lloyds TSB back in 2005. She was elevated to group GC in 2015, before becoming CLO in 2019.
Prior to joining Lloyds, she spent 11 years at Linklaters. She will step down at the end of this year.
Writing on LinkedIn, she said: “It has been a privilege to work with such a range of extraordinary colleagues across the group, as well as peers and partners outside it. I have been inspired and impressed by the expertise, integrity, challenge and commitment they bring to everything we have done together and look forward to continue working with them all in the months ahead.”
Cheetham added she was looking forward to “rewiring and developing” her portfolio career including through her roles as commissioner of the Forestry Commission and as a director of Forestry England.
Lloyds Banking Group was contacted for comment.
In other in-house banking moves, last month US investment bank Houlihan Lokey hired Paychex’s CLO Prabha Sip Bhandari as its next GC, succeeding Christopher Crain who is stepping down after more than two decades in the role.
And in July, Goldman Sachs promoted deputy GC Michael Bosworth to acting GC, replacing Kathy Ruemmler, who earlier in the year announced she was stepping down amid scrutiny over her ties to Jeffrey Epstein.
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