Inside Track: The Buyer Has The Power. Plus, Meet The GC Of The Year.
The power that law firms once had over in-house legal departments has shifted to the buyer, according to a panel at ALM's annual Legalweek conference. Also, Anat Hakim, formerly the top lawyer at WellCare and now at Eli Lilly, was named 2019 General Counsel of the Year.
February 05, 2020 at 06:05 PM
6 minute read
Welcome back to Inside Track!
The power that firms once had over in-house legal departments has shifted to the buyer, Catherine Zinn, chief client officer at Orrick, Herrington & Sutcliffe, said at Legalweek in New York.
"I think the buyer has shifted and the power has shifted and it's never coming back," Zinn said.
This puts firms in a relatively new position and at times wondering what services are best provided for clients.
Rhonda Powell, general counsel of Buzzfeed, said companies and their legal departments are becoming leaner. Because of this, less experienced people are taking on senior roles in an organization "and not wanting to be reminded of that fact." She said it is important for firm attorneys to be able to make a connection with the people they are speaking with.
"[Those people] are needing more support and a little more direction," Powell explained. "One of the areas that I definitely look to law firms and others for help with is providing that additional help with relevant, contemporary skill support. We've had law firms come in to speak to our group or to speak to other groups in the institution as well about a specific topic in a relatable way."
What kind of expectations do you have of outside counsel beyond working on legal matters? Let me know by emailing me at [email protected].
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What's Happening
General Counsel of the Year
Anat Hakim, formerly the top lawyer at WellCare and now Eli Lilly, said growing up that she wanted to be a doctor. However, she changed her mind in college after realizing how to make the best use of her skills for advocacy. Hakim, who was named 2019 General Counsel of the Year, said she decided to go in-house because she wanted a new challenge.
"After 17 years in private practice, I felt there wasn't anything left that I was excited about in private practice. It also didn't feel like I was in the sweet spot of what I love to do and what I was good at," Hakim said.
Hakim's career has been one where she is constantly seeking the next challenge. Her first in-house role was at Abbott Laboratories and she wanted to lead a team, which brought her to become the general counsel at WellCare. When she took the job, she immediately began changing how the in-house department was structured.
"I worked with my deputies and we realigned everybody's position so that we're set up the same way the business is," Hakim explained.
Hakim's last challenge at WellCare involved leading it through its merger with Centene. She said the legal department at WellCare has risen to the occasion and that she was confident about the future of the legal department.
"There is a level of confidence in what we've accomplished that is making people feel secure that I have their back, my deputies have their back, and that they're doing important work to get this deal closed," Hakim said.
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Climate Change Is Part of Enterprise Risk
At a panel sponsored by the New York State Bar Association, Pfizer assistant general counsel Sally Fisk said climate change is a risk businesses need to consider and in-house counsel can help.
"Lawyers must help clients assure a climate-resilient supply chain," and also ensure that climate risk analysis is performed as part of due diligence in acquisitions, Fisk said at the meeting.
She said in the panel that Hurricane Maria in 2017 had a $195 million impact on Pfizer because three of its manufacturing plants located in Puerto Rico were shut down.
Fisk said Pfizer started a project to incorporate future climate modeling, as well as historical data including projected sea-level rises, in computer models used in risk management and planning as a part of loss prevention.
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What I've Been Reading
The former general counsel for an electric car company that competes with Tesla filed suit against his former company, according to a report in The Lawyer Magazine. Hong Liu claims in the U.S. District Court for the Southern District of New York that the executives at Faraday Future made false claims about a pending $2 billion investment.
Mark Lightfoot, general counsel at Evergreen Packaging LLC, said in an interview with the Memphis Business Journal that he became interested in law as a child when he listened to stories his father's attorney friends would tell.
Seclore and Altien have created a platform that will enable corporate legal departments to track the sharing of confidential data, according to a report in The Canadian Lawyer. The technology will allow in-house counsel to track sensitive documents even after they've been downloaded.
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Don't Miss
Wednesday, Feb. 19 to Friday, Feb. 21 – The International Air Transport Association will be hosting the IATA Legal Symposium at the New York Marriott at the Brooklyn Bridge. Speakers will include Louise-Hélène Sénécal, assistant general counsel at Air Canada, Barbara van Koppen, general counsel at KLM Royal Dutch Airlines, and Joan Canny, general counsel at Amerijet International Inc.
Friday, Feb. 21 – The Villanova University Charles Widger School of Law will be hosting the Sixth Annual Fashion Law Symposium. Speakers will include Maryann Lawrence, associate general counsel at Chanel Inc., Shane St. Hill, associate general counsel at Rent the Runway, and Gail Wheeler, general counsel at Hermes of Paris Inc.
Thursday, March 5 – Corporate Counsel Business Journal will be hosting a Legal Operations Executive Forum at the Tarrytown House Estate in Tarrytown, New York. Speakers will include Andrea Colby, former IP counsel at Johnson & Johnson; Darren Guy, AIG global head of legal operations; and Brian Liss, senior vice president and deputy general counsel at Leidos.
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On The Move
✦ LendingUSA ✦ Andrew Cosgrove has been made the second general counsel and chief compliance officer of the point-of-sale lending company. He replaces Jenann Shemisa, who served as the company's general counsel from May 2017 to October 2019.
✦ Centene ✦ Chris Koster was named the health care company's general counsel and will begin his new role on Feb. 19. The company's former general counsel, Keith Williamson, has been named the president of the Centene Charitable Foundation. The move comes shortly after the company completed its acquisition of WellCare.
✦ Magellan Health ✦ David Haddock has been made the general counsel of the Phoenix-based health company. He replaces Daniel Gregoire, who announced his retirement in November. Haddock previously worked as the general counsel of Quality Care Properties Inc.
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