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International Edition

ABN Amro loses lawyers after RBS takeover causes shake-up

ABN Amro has lost a number of senior lawyers in its Dutch headquarters as the bank restructures in the wake of its takeover by Royal Bank of Scotland (RBS). It is understood that seven lawyers have left the bank in recent months, including global general counsel Eva Simon Thomas and corporate general counsel Penelope Simmers as well as supporting corporate M&A and regulatory lawyers. The losses follow Dutch Central Bank approval of integration plans between the RBS-led consortium - also comprising Fortis and Santander - and ABN. RBS declined to comment on redundancies but confirmed that both Simon Thomas and Simmers left their positions earlier this year.Meanwhile, it is understood that ABN has appointed a new head of legal for the Netherlands, with Rein Graat thought to have taken up a new position. Linklaters has been aadvising RBS throughout the restructuring with four lawyers in London - led by corporate partner Anne Drummond - and four in Amsterdam led by corporate partners Peter Goes and Henk Arnold Sijnja working on the matter. Following public criticism of the takeover the Dutch ministry of finance is currently preparing a legal analysis on the merger, with local leader Loyens & Loeff advising.
2 minute read

International Edition

Legal solutions for a whole new MTV generation

Robert Cummins could be the most important lawyer on the current roster of MTV legal staff - he is the head of business and legal affairs for emerging markets.The Viacom-owned entertainment company, which is well established in the US...
6 minute read

International Edition

US video games association names new legal chief

US-based video games group The Entertainment Software Association (ESA) has appointed Kenneth Doroshow as its new general counsel. Doroshow, a former senior counsel to the US Department of Justice, will officially take up the post at the association in September.Commenting on the hire, ESA chief executive Michael Gallagher said: "The ESA continues to attract and recruit the brightest individuals. Ken has expertise in the protection of intellectual property and an excellent understanding of the increasingly connected, dynamic, and innovative entertainment environment we live in."
2 minute read

International Edition

PE house recruits Travers partner as first GC

Bridgepoint Capital has appointed Travers Smith private equity partner Charlie Barter as its first-ever general counsel. Barter will take up the post in October after working closely with the private equity house as its relationship partner at Travers.Commenting on the move, Barter said: "I have had 23 hugely happy and fulfilling years at Travers Smith. While I am very excited about my new role at Bridgepoint, I leave Travers Smith with great sadness. It has been a wonderful firm to work for and I know it will continue to go from strength to strength".
2 minute read

International Edition

BarCap shakes up in-house team after job cuts

Barclays Capital general counsel for UK and Europe Jake Scrivens is set to step down from his post to take up a financial role with the investment bank. Scrivens has been appointed as head of the newly-created structured credit portfolio. He will take up the position from the beginning of September, with Asia-Pacific legal head Magnus Spencer moving into the role of UK and Europe GC.In his new post, Scrivens will lead a trading team focusing on products in BarCap's non-continuing credit business lines. He will work with existing product groups to enhance risk management processes.
2 minute read

International Edition

Switalski workplace bullying claim upheld

Former F&C Asset Management legal head Gill Switalski has had her workplace bullying claim against her former employers upheld after the Employment Tribunal rejected an application to review its original decision. The ruling follows June's remedy hearing in which F&C asked for the case to be reheard, claiming that the lawyer faked her illness to win a £19m payout.
2 minute read

International Edition

JPMorgan, Morgan Stanley settle securities probes

JPMorgan Chase & Co and Morgan Stanley will spend more than $7bn (£3.8bn) buying buy back auction-rate securities in a settlement announced on Thursday by New York state attorney general Andrew Cuomo and Securities & Exchange Commission (SEC) enforcement division director Linda Thomsen, writes The American Lawyer. The deal ends investigations by the SEC and several states' attorney generals into false claims made by the two banks in marketing auction-rate securities. At issue was the banks' continuing effort to bill the securities as a safe investment even after the unravelling credit markets made them risky, less easily liquidated bets.
3 minute read

International Edition

UBS fills Kurer's shoes with new general counsel

UBS has hired a new general counsel - with Swiss Re group legal officer Markus Diethelm set to join the troubled investment bank later this year. Diethelm, who will take up the role during the third quarter of 2008, will replace UBS's former legal chief Peter Kurer. Kurer was appointed as the bank's chairman in April this year and since that date UBS has been filling the role on a temporary basis, with a three-man team comprising global head of compliance Neil Stocks, general counsel for the corporate centre Bernard Schmid and investment banking general counsel David Aufhauser.
2 minute read

International Edition

Arguments heard in JPMorgan-Bear Stearns merger case

Litigation stemming from the JPMorgan-Bear Stearns merger took a step forward this week, with New York state Judge Herman Cahn holding a summary judgment hearing on Monday (12 August), writes The American Lawyer. The case in question was brought by Bear shareholders claiming that Bear Stearns and its directors breached their fiduciary duty when they agreed to a buyout by JPMorgan and did not find a better alternative. JPMorgan initially offered $2 (£1.06) per share, then raised its offer to $10 (£5.34) per share. The shareholders also are going after JPMorgan, claiming the bank aided and abetted those breaches. This week's hearing was on the defendants' motion for summary judgment.
2 minute read

International Edition

Which? Legal Service head quits after one year

Consumer organisation Which? is looking for a new head of its Legal Service division following the departure of the previous post-holder after just a year in the role. Gordon Wilson left the organisation last week with finance and operations director Martin Webster taking up the role on a temporary basis.A Which? spokesperson said: "Gordon Wilson recently left his role as head of Which? Legal Service to pursue other opportunities.
2 minute read

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