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It is vey common to find “Knowledge Silos” in many companies, it means every company has specialist in specific domains such as credit card (for instance in banks), mutual funds, investment and so on. The main issue is when after a period of time there is only one guy that knows a business domain so the company has a dependency of this guy in order to add (or update) more features to this business domain.
What will happen ifhave only one Stakeholder for many projects? Well, that guy will be very busy all day long assisting team members to remove doubts (or explaining the business to different Product Owners). If you think that he can become in Product Owner I strongly suggest to you, No. Why? Because you will be creating a bottleneck from every project related to the business domain that this guy is an expert. The best approach is to spread the knowledge of this guy in a group of several guys so you will count with more than “one” expert.
One of the main issues to deal with Legacy Code is there are few guys who are able to manage the legacy code. It is a big challenge to update Legacy Code without the technical knowledge. I run into with many clients who had to struggle with lack of knowledge of Legacy code that demands an extra time and effort. If you have to deal with this situation my best suggestion is take the guy that knows more about the legacy code and organise training for every team member in order they would gain technical.
To conclude, you should remove all your dependencies starting with “Knowledge Silos” that are very common to find in many companies.
If you have any doubts don’t hesitate to reach me at Twitter (@metlucero), Skype (metlucero is my id) or Email: metlucero [at] gmail [dot] com