Financial services giant Barclays announced the appointment of Stephen Shapiro as group general counsel, in addition to his current position as group company secretary.

Shapiro will succeed Bob Hoyt, who is stepping down following nearly seven years in the role on Aug. 1. Shapiro will join the Group Executive Committee and report directly to Group CEO Jes Staley in his capacity as general counsel.

Shapiro joined Barclays in 2017 from SABMiller, where he was group company secretary and deputy general counsel. He had previously held the role of global head of legal at the firm.

Hoyt will remain at Barclays until the end of 2020 in a vice-chairman role, acting as a senior advisor to the CEO and other executives on key strategic projects.