Former Eversheds chair John Heaps appointed to non-exec role with Yorkshire Building Society
Former Eversheds chairman John Heaps is set to take over as chairman of the Yorkshire Building Society when incumbent Ed Anderson retires next April.
December 01, 2014 at 07:20 PM
2 minute read
Former Eversheds chairman John Heaps is set to take over as chairman of the Yorkshire Building Society when incumbent Ed Anderson retires next April.
The appointment will be read as a sign that boards are warming to the idea of having lawyers as non-executive directors.
Heaps (pictured) was Eversheds chairman until May this year, when he stood down to be replaced by litigation partner Paul Smith. He combined his duties as chairman with fee earning as a litigation partner. He will remain with Eversheds until he takes on the Yorkshire Building Society role.
"This is a very big job and a real vote of confidence in lawyers as non execs," said Alasdair Douglas, chairman of the City of London Law Society. "It is particularly interesting that John has been appointed in the most highly-regulated sector – banking – perhaps again a vote in favour of lawyers being the right people for such jobs where ethics, trust and reputation are cornerstones, or should be cornerstones, of the business.
"Of course, John ran a huge world-wide business during his time as chair of Eversheds and perhaps, finally, head-hunters and boards are beginning to appreciate that those running massive international law firms are successful businessmen and women, running multi-billion dollar businesses with thousands of staff and not 'just lawyers.'"
Many law firms are still wary of conflicts of interest as a result of partners serving as non-execs on the boards of their clients, while some corporates question the commercial acumen of lawyers.
One of the most high profile recent non-exec appointments from the legal sector was made earlier this year when Linklaters senior corporate rainmaker Charlie Jacobs joined the board of FTSE 100 mining company Fresnillo.
Other similar moves have included Elizabeth Holden, formerly a corporate partner at Slaughter and May, who is now on the management board of Great Portland Estates, Oonagh Harpur former Linklaters director of corporate responsibility, now a non-executive director at HM Treasury Solicitors and Guy Beringer, former senior partner at Allen & Overy (A&O) and current non-executive chairman of the management board at UK Export Finance.
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