Confirmed today (31 March), Diageo has since December been reviewing its legal suppliers for the UK (excluding Northern Ireland), resulting in a ‘material consolidation’ of its legal services suppliers. Firms that have previously been reported to be on the FTSE 100 company’s main panel include CMS Cameron McKenna and legacy SJ Berwin.
The trio of LB100 firms will formally take up the role tomorrow (1 April) – tasked with a broad range of commercial services – with the role running to 30 June 2016.
In addition, a number of ‘specialist approved suppliers’ will be appointed to cover areas such as intellectual property, and specialist commercial and contentious work.
In a statement, Diageo said: ‘We do not intend to publicise a list of the “specialist approved suppliers” or comment further on the process or outcome of the review.’
Corporate lawyer Moriarty stepped into the role in mid-July last year, having taken over the 76-lawyer team from Tim Proctor who retired from the company after 13 years. Moriarty previously worked in private practice in London and Dublin before joining Diageo’s in-house team in 1997, where she also worked as corporate M&A counsel and regional counsel for Ireland.
Diageo last carried out a review of its external advisors in 2009.
Slaughters’ well-established relationship with the Diageo team includes corporate partner Simon Nicholls’ role in 2012 advising on the drinks company’s £2.4bn transaction to acquire up to 53.4% in United Spirits Limited, India’s leading spirits company.