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International Edition

Which? Legal Service calls on Avon for new head

Consumer organisation Which? has ended its search for a new head of its Legal Service division by appointing Avon Cosmetics' Steve Coyle. Coyle was previously head of sales development for Western Europe, the Middle East and Africa at Avon. He replaces Gordon Wilson, who left Which? in August after just one year in the role. Coyle said: "Which? is a well-known brand and has been providing independent, expert advice to consumers for more than 50 years, so it is a great organisation to work for.
2 minute read

International Edition

C&I Group unveils new chair

The Commerce and Industry (C&I ) Group has appointed Sapna Bedi FitzGerald as its new chair. FitzGerald, who is currently company secretary and head of legal at residential property company LSL Property Services, took up the post at the beginning of the month, replacing Martin Rodmell of food company Princes.FitzGerald has been appointed for a one-year term and has promised to offer greater support to members of the group.
2 minute read

International Edition

Two nations, one market

As with neighbours everywhere, the warmth of feelings between Spain and Portugal has ebbed and flowed. Despite sharing one of Europe's longest borders, the economic, political and social integration of the two countries has been limited for much of their history. The two Iberian neighbours have been separate states since Portuguese independence was finally established through the Treaty of Lisbon in 1668. Since then they have coexisted, but Spain traditionally looked to France economically, while Portugal looked to the UK.But in just the past 20 years, the two countries' entry into the European Community and then the European Union (EU) has managed to undo long-held mutual suspicions. Now, multinational companies are among those capitalising on Iberia's open borders and shared currency and they are increasingly combining their Spanish and Portuguese business operations and legal functions.
9 minute read

International Edition

Krispy Kreme appoints new general counsel

Krispy Kreme Doughnuts has appointed Daryl Marsch to the position of general counsel. Marsch had been in the role, based in North Carolina, on an interim basis since May last year, but has now taken up the post permanently. He will report to president and chief executive Jim Morgan. Prior to his position with the American fast food chain, Marsch was senior counsel at RJ Reynolds Tobacco. He has also spent time as a trade regulation lawyer with law firm Jones Day in Washington.
1 minute read

International Edition

US trio act on Morgan and Goldman transformations

A trio of elite US firms have taken the lead roles on the transformation of Morgan Stanley and Goldman Sachs into bank holding companies, reports The American Lawyer. Cravath Swaine & Moore, Sullivan & Cromwell, and Wachtell Lipton Rosen & Katz. played key advisory roles on the groundbreaking deals, and the same three firms also advised Morgan Stanley and Japan's Mitsubishi UFJ Financial Group in a deal under which Mitsubishi, known as MUFG, will purchase up to 20% of Morgan Stanley's common stock. The bank holding deal is the most momentous in terms of Wall Street history. In return for access to deposits and the Federal Reserve's lending facilities, Morgan Stanley and Goldman will now be subject to the tight federal regulations that will hamstring their ability to take billion-dollar risks. The Federal Reserve can demand more public disclosure and limit the level of debt the banks can take on in relation to their capital reserves.
2 minute read

International Edition

Skadden leads on Nomura's $230m Lehman purchase

Skadden Arps Slate Meagher & Flom has landed the top role advising Nomura on its $230m (£124m) acquisition of Lehman Brothers' Asian businesses. The US firm is advising the Japanese bank from the firm's London and Hong Kong offices, with a team including Hong Kong corporate co-head Nick Norris, London restructuring partner Lynn Hiestand and London corporate partner John Adebiyi.Skadden is thought to be advising Nomura on its bid for the defunct investment bank's European assets.
2 minute read

International Edition

Birmingham council to kick off panel review

Birmingham City Council is set to shuffle its legal advisers with a panel review set to start next month. The review will be led by director of governance Mirza Ahmed, who will invite firms to apply for contracts beginning in September 2009.On completion of the review, the panel will also be made available for the use of other local councils within the region.Birmingham City Council currently instructs 21 firms, including Wragge & Co, Eversheds, DLA Piper and Bevan Brittan. It is understood that the organisation's annual legal spend is in the region of £5m.
2 minute read

International Edition

Warner Bros unveils new general counsel

Warner Bros. has appointed John Rogovin as its new general counsel, replacing the entertainment giant's long-serving legal chief John Schulman. Schulman announced his decision to step down earlier this week (16 September) after 24 years at Warner Bros. He will leave the company at the end of the year.Rogovin, former general counsel of the Federal Communications Commission, joins from law firm Wilmer Cutler Pickering Hale and Dorr and inherits a 125-strong legal team.
2 minute read

International Edition

Lloyds says HBOS deal could affect law jobs

Lloyds TSB has today (18 September) confirmed that there could be legal job losses as a result of its £12.2bn takeover of stricken lender HBOS.The bank, which unveiled details of the union earlier today (18 September), said it is expecting to make cost savings of around £1bn a year through the merger by 2011.Head office operations including legal, HR, risk and finance departments are among those facing consolidation at the two banks, which are acknowledged to have substantial cross-over between their operations.
3 minute read

International Edition

Stop the meter

Sometimes a debate within an industry can move at blinding speed. In such circumstances, what is usually required are the right factors that push a particular matter up the agenda, leading to a critical mass that sees progress on supposedly intractable issues.The legal industry last year looked as if it might just be reaching such a moment with the long-running debate on hourly fees, which general counsel have criticised for years for rewarding inefficiency.Last year, law firm charge-out rates - not to mention partner profits - were shooting skyward amid bull market conditions. So when the Commerce and Industry (C&I) Group announced a project to research the reality of billings and come up with some practical suggestions to improve the lot of frustrated general counsel, it looked as if change might finally be in the air.
8 minute read

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