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International Edition

Lawyers pocket £1bn from UK private equity

UK law firms pocketed more than £1bn in fees from the private equity sector in 2006, with legal advisers confirmed as one of the main beneficiaries of the boom in venture capital activity over recent years. Research published today (21 January) by the British Private Equity & Venture Capital Association (BVCA) shows that the estimated 200 law firms involved in private equity work trousered fees worth a combined £1.2bn for the 12-month period.
2 minute read

International Edition

SocGen names new legal chief in US

Societe Generale's corporate and investment banking arm has named Steven Heineman as its new US general counsel, replacing outgoing incumbent Mark Kaplan. Former Debevoise & Plimpton litigator Heineman joined the French banking giant in 2002 and was previously director of litigation and regulatory affairs. He will now report to group general counsel Gerard Gardella, compliance head Chris Davies and US chief executive Diony Lebot.
2 minute read

International Edition

O2 prepares to kick off first post-takeover panel review

Mobile phone giant O2 is preparing for the first review of its legal advisers since its takeover by Spanish telecoms behemoth, Telefonica. The company, which counts Freshfields Bruckhaus Deringer among its main advisers, will kick off a process in the coming months, led by general counsel Justine Campbell.
2 minute read

International Edition

Corporate Counsel: Discount fee deals prove to be blunt instrument

In their efforts to reduce what they spend on outside counsel, many law departments have asked the law firms they rely on significantly to give them a special privilege - the best hourly rates that the firm has agreed to for any other client. Like agreements between nations to lower tariffs to the lowest rates applied to the best trading partner, these so-called 'most-favoured nation' (MFN) requests may seem innocuous - but they are not. Not that MFN requests are everyday occurrences. Mostly, only large and prestigious companies' law departments feel they deserve the best treatment. Even then, when they press for that advantage it is mostly with law firms where they spend a lot and over who they have some leverage. But an MFN demand seems like an easy cost-saver and it is simple to explain, so we are likely to see more such requests by law departments in the coming years
7 minute read

International Edition

Food giant General Mills nabs Sara Lee legal head

US food giant General Mills has appointed respected Sara Lee legal chief Roderick Palmore as its new general counsel. Palmore, who is set to start at the Minneapolis-based Fortune 500 food group on 11 February, will be responsible for General Mills' ethics and compliance functions as well as corporate security.
2 minute read

International Edition

National law firms go postal for coveted property panels

Four national law firms have won prized property panel spots for major clients and UK institutions Hewlett Packard UK and Royal Mail.
2 minute read

International Edition

General counsel divided on threat of the long arm of US regulators

Many corporate counsel remain relaxed over the threat of cross-border regulation from the US, despite the growing impact of tough anti-bribery and corporate governance laws. Michelle Madsen reports
5 minute read

International Edition

New GC to lead utilities giant's legal overhaul

United Utilities is set to overhaul its legal function following the appointment of new general counsel Tom Keevil. Keevil joined the FTSE 100 utilities giant from tobacco group Gallaher at the beginning of December following the departure of former United Utilities general counsel Tim Rayner, who joined Rolls Royce in April.
2 minute read

International Edition

Domino's takes away GC from car retailer

International fast-food giant Domino's Pizza has appointed former Autonation legal chief Ken Rollin as its new general counsel. Rollin, who joined Florida-based Autonation - one of the largest car retailers in the US - in 2000, was previously a senior lawyer at US pharmacy chain Walgreen, where he set up the company's in-house litigation department.
2 minute read

International Edition

BP bags GSK's Bondy to replace retiring GC Bevan

Energy giant BP has bagged the high-profile general counsel of GlaxoSmithKline (GSK), Rupert Bondy, to replace veteran general counsel Peter Bevan when he retires later this year. Bevan joined BP's chemicals arm in 1970 and became group general counsel 22 years later, securing his position as one of the UK's best-known general counsel.
2 minute read

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