A former legal chief for a major British brewer is to become group GC at one of the country’s biggest banks.
Barclays has appointed Stephen Shapiro, who is currently group company secretary at the banking giant, as group general counsel. He will join the group executive committee and report directly to group CEO Jes Staley in his capacity as group GC and to group chairman Nigel Higgins in his role as company secretary.
Shapiro joined Barclays in 2017 from FTSE-10 company SABMiller plc, where he was deputy GC.
He will take over from Bob Hoyt on 1 August.
Hoyt, who is stepping down after nearly seven years in the GC post, will remain at Barclays until the end of 2020 in a vice-chairman role, acting as a senior adviser to the CEO and other executives.
Staley said: ‘Bob Hoyt has been an outstanding general counsel for Barclays. He was instrumental in guiding the group through many complex challenges that followed the financial crisis, and in resolving some of our biggest legacy conduct issues. Bob has been a constant source of wise counsel and support through a significant period of transformation for Barclays, and I thank him for his service on behalf of the bank.
‘In Stephen Shapiro we are fortunate to have such an eminently qualified, hugely experienced, and valued colleague in place to take over as general counsel for the group, and I look forward to working even more closely with him as he assumes his new responsibilities.’