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International Edition

Barclays gets Datacert aid with panel review

Barclays has introduced a new IT system to help it cut down legal costs. The bank will use technology provided by US company Datacert, which allows it to compare cost information and staffing details from its external counsel in its current panel review. Barclays is the first UK business to use the system. Andrew Dey, head of operations at Barclays legal and compliance, said: "It will allow us to make in-depth considerations with much more information at our fingertips."
1 minute read

International Edition

Ex-Monster GC faces jail sentence as stock options scandal rumbles on

A group of high-profile general counsel have found themselves in the firing line as the share options scandal currently dogging corporate counsel continues across the US. In the latest chapter of the controversy, employment giant Monster's ex-general counsel, Myron Olesnyckyj, has pleaded guilty to criminal charges involving stock-option backdating and tech-company BEA Systems general counsel Bob Donohue has been demoted.
3 minute read

International Edition

Corporate Counsel: City giants still fall short of commercial hype, warn clients

Quality is not yet a given, warn corporate counsel, who report that advisers are still not living up to their own sales pitch for commercial know-how. Michelle Madsen examines the findings of the latest Verdict survey Law firm claims of commercial savvy are failing to convince their audience, say clients, who argue that even basic quality of work from major City firms cannot yet be taken for granted.
4 minute read

International Edition

Tyco names Reinsdorf as new general counsel

Tyco International has announced that general counsel William Lytton is to retire and will be replaced by in the role by former Tyco company secretary Judith Reinsdorf. Reinsdorf, who returns to the company after two years as general counsel at computer science company CS Bard, will report to chief executive Ed Breen and takes up her new post on 12 March.
2 minute read

International Edition

GE to ditch e-tendering to 'deepen relationships' in Euro panel review

General Electric (GE) is turning its back on its controversial online auction tender process as it embarks upon a review of its European advisers. GE, one of the world's biggest companies, has launched a review of its European legal panel and hopes to complete the process by the end of the summer. But the company will not be using the innovative eBay-style auction method in which firms attempt to outbid each other by lowering fee rates in real time to secure panel work.
2 minute read

International Edition

BLP partner takes Morgan Stanley secondment

Berwin Leighton Paisner (BLP) has seconded another partner to a client, sending property partner Robert Bindless to Morgan Stanley Real Estate as the legal team's acting UK head of finance.
2 minute read

International Edition

Commentary: Those bank panels: smoke, mirrors and current accounts

There are few top firms that will not have sent their marketing departments into overdrive with last week's news that financial institutions including Deutsche Bank, Barclays and Calyon are gearing up for panel reviews this year.
4 minute read

International Edition

Corporate Counsel: Careful what you wish for

The growing US row over options backdating has already claimed more in-house careers than all the post-Enron collapses combined. Michelle Madsen reports on the scandal that raises awkward questions for corporate counsel Scandals have become so woven into the fabric of modern corporate culture that in-house lawyers could be forgiven for thinking that dealing with the latest incident of boardroom controversy is all in a day's work.
7 minute read

International Edition

InBev hands West Euro GC global corporate role

Drinks giant InBev has announced that Western Europe general counsel Deepak Malhotra is to lead its global corporate legal team as an extension of his current role. Malhotra will head up a combined legal team of 80 lawyers and support staff, although the two departments will remain separate. He takes on the role from Miren Aguirre, who has left the company.
1 minute read

International Edition

LSE clearing house names new general counsel

LCH Clearnet - the main clearing house of the London Stock Exchange - has named barrister Iona Levine as its new general counsel. Levine - the co-founder of niche finance set Minerva Chambers - will head up an in-house team of two lawyers and three support staff and report to chief executive Roger Liddell.
1 minute read

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