The white-collar crime arena has seen significant upheaval in recent weeks, with the Serious Fraud Office (SFO) making an uninspiring interim appointment to replace director David Green QC, while Linklaters has hired the divisive Alison Saunders, the current director of public prosecutions (DPP).
Mark Thompson, formerly the SFO’s chief operating officer (COO), took over from the previous incumbent on a temporary basis on 21 April. In an SFO press release, Thompson had said: ‘The search for a new director has been successful, although the individual cannot take up the post immediately.’
The obvious conclusion was that the permanent replacement would be brought in externally, which confounded the widely-held prediction that the SFO’s general counsel, Alun Milford, would ascend to the role.
Thompson’s appointment brought cynicism from white-collar lawyers, with Wilmer Cutler Pickering Hale and Dorr of counsel Alison Geary commenting: ‘This announcement sparks more questions than it answers.’ Likewise, Stephen Parkinson, senior partner at Kingsley Napley, said: ‘I do not know Mark Thompson, but he is an accountant and therefore does not have the experience required to make prosecution decisions.’
However, at press time Lisa Osofsky, who is currently the EMEA regional leader and head of investigations at compliance and risk group Exiger, emerged as most-likely to be the permanent appointment.
Osofsky has a very strong CV. Prior to Exiger she served as deputy GC of the FBI, as well as a special attorney in the fraud section of the criminal division of the Department of Justice (DoJ). Crucially, she has previous experience with the SFO, supporting the agency on its investigation into the collapse of the BCCI.
Predictably the Attorney General’s office declined to comment. The SFO declined to comment. And Osofsky herself declined to comment.
Elsewhere, Linklaters has become the latest firm to hire a former prosecutor, with the news that Saunders will be arriving shortly after she steps down in October.
Saunders, who became the first internal candidate to lead the Crown Prosecution Service (CPS) when she replaced Keir Starmer in 2013, will join the Magic Circle outfit as a partner in its business crime team.
However Saunders’ spell has been marred by criticism, particularly surrounding her handling of sexual abuse cases. She faced calls to resign in June 2015 after she opted not to prosecute Labour peer Lord Janner over historic sexual abuse claims, with an independent QC later overturning her decision.
However, Linklaters’ global dispute resolution head, Michael Bennett, asserted: ‘We haven’t had any reservations at all. She will be a very good fit. She’s a real team player who likes working with people and she has a refreshing lack of ego.’