David Greenwald
Deputy general counsel and international general counsel
Goldman Sachs
‘In-house counsel are now acting more and more as critical advisers to the businesses that they cover,’ says David Greenwald, who has been deeply involved in helping his bank recover from the credit crunch. ‘They understand the business itself, the law applicable to it, the company’s culture and hot buttons so they can provide comprehensive advice.’
Regulatory reform continues apace and Greenwald adds that it is senior in-house counsel, who know the business inside out, who must take responsibility for steering banks through the minefield.
Of course regulatory changes and sluggish markets can make a real dent in profits, making value for money an even greater concern when it comes to instructing external counsel. And that doesn’t just mean cost.
‘We instruct firms with the particular expertise that we need, that we know have worked on similar matters before, and that we know well and that know us well,’ he says.
Law firms used (known to use): Allen & Overy, Linklaters, Sullivan & Cromwell
2007-present: Deputy general counsel and international general counsel, Goldman Sachs
2000-present: Partner, Goldman Sachs
1998-2000: Managing director, Goldman Sachs
1994-98: Vice president and associate general counsel, Goldman Sachs
1990-94: Partner, Fried, Frank, Harris, Shriver & Jacobson