Banks and professional services | Lloyds Banking Group
Kate Cheetham
Banks and professional services | Lloyds Banking Group
Group general counsel and company secretary | Lloyds
Team size: Approx 350 excluding secondees What are the most important transactions and litigations that you have been involved in during the last year? The first thing to mention would...
Team size: Around 300
Major law firms used: Addleshaw Goddard, Allen & Overy, Ashurst, CMS Cameron McKenna Nabarro Olswang, Eversheds Sutherland, Herbert Smith Freehills, Hogan Lovells, Linklaters
Kate Cheetham is a stalwart of the in-house legal community, and she features in the GC Powerlist again after another strong year. Unsurprisingly, Cheetham’s 2018 was characterised by a rising tide of regulation, hardly uncommon for a banking GC.
Her priority has been to comply with new ring-fencing regulation while having a minimal impact on customer experience. As a more straightforward retail and commercial bank than others, the requirements were less stringent. Nonetheless, a new, non-ring-fenced corporate markets bank was established. ‘We’re trying to ensure it’s the best it can be for customers and not disruptive for them.’
In the last year, Cheetham has been particularly vocal over how in-house teams and law firms alike can encourage innovative working practices. Lloyds Banking Group is piloting a chatbot that will allow the wider business to access legal solutions in a quicker way.
And while there is always room for improvement, Cheetham is upbeat about what her external firms can offer. ‘We use firms and alternative legal service providers to run the document collation and search functionality for litigation. We also use different types of firms for client documents and large data sets. Firms are getting better at thinking about how they are going to provide services differently going forward.’
Cheetham has been with Lloyds for over 11 years now, operating in a couple of different roles before becoming group GC in 2015. The consistent theme is job satisfaction. ‘I love my job. I have always thought it was a huge privilege to be in this role. I have done a number of roles since I have been here and I have found each one stimulating.’
On how to foster a productive workplace, she concludes: ‘It’s essential we create an environment where we have the confidence and courage to make difficult decisions and develop a culture of test and learn.’
