Do you ever get the feeling you’re flying blind as a general counsel? Not in the context of your own business, which will generate reams of numbers and facts to indicate how the legal function is performing within that one company. But in the context of how GCs and legal teams are developing at a wider level, profession-wide and within industry sectors, the question stands.
The march away from hourly billing continues as Royal Dutch Shell, one of the world’s largest consumers of legal services, confirmed that all its work must be priced under ‘appropriate’ fee arrangements (AFAs), following its 2016 panel review. AFAs, which include capped, fixed and contingency fees, had been in place for all litigation work since June 2014, but now apply to all legal matters. In addition, every piece of work will be put out to tender to three or more panel firms. The shake-up was overseen by associate general counsel for global litigation, strategy and co-ordination Gordon McCue, who led Shell’s overall panel review.
Paul Gilbert attempts to chart what is so rarely discussed: the core competences and obligations of a general counsel.
At the risk of saying something that sounds unhelpfully like, ‘general counsel means general counsel’, I have spent a lot of time over many years considering how people in this role should define their purpose and articulate their contribution.
Stefan Stern assesses a new book on how institutional weaknesses let corporate risk wreak havoc.
If you found the events of 2016 unsettling you may wish to look away now. For the foreseeable future. Brexit means Brexit, apparently, but no-one seems able to provide much more detail than that as yet. A new US president unlike any most of us have ever seen is starting a four-year term in the White House. World War Three could break out at any moment, on Twitter.
Continue reading “‘Crisis accumulates for years’ – a fascinating insight into the roots of risk”
Stefan Stern assesses a new book on how institutional weaknesses let corporate risk wreak havoc.
If you found the events of 2016 unsettling you may wish to look away now. For the foreseeable future. Brexit means Brexit, apparently, but no-one seems able to provide much more detail than that as yet. A new US president unlike any most of us have ever seen is starting a four-year term in the White House. World War Three could break out at any moment, on Twitter.
Continue reading “‘Crisis accumulates for years’ – a fascinating insight into the roots of risk”
In-house teams may have grown in size and stature over recent years, but their external adviser panels are definitely shrinking. As a result, law firms find themselves increasingly at the sharp end during adviser reviews (see box ‘Cutting back’, below), with clients pushing for better rates, greater efficiencies and added extras.
In-house teams may have grown in size and stature over recent years, but their external adviser panels are definitely shrinking. As a result, law firms find themselves increasingly at the sharp end during adviser reviews (see box ‘Cutting back’, below), with clients pushing for better rates, greater efficiencies and added extras.
Unlike their private practice counterparts, in-house private equity (PE) lawyers prefer a low profile. Or, as one private practice partner puts it: ‘PE is a murky, sharp-elbowed world. In-house lawyers like to stay out of the limelight.’ Continue reading “A private function”
Unlike their private practice counterparts, in-house private equity (PE) lawyers prefer a low profile. Or, as one private practice partner puts it: ‘PE is a murky, sharp-elbowed world. In-house lawyers like to stay out of the limelight.’ Continue reading “A private function”
The professional life of a public company general counsel in Scotland can feel isolated at times. As a member of a small club, opportunities to plug into the professional networks that their peers in the South East of England take for granted can be limited. ‘We do get a sense sometimes that we are a decreasing community!’ confesses Christopher Morgan, GC and company secretary at Glasgow-based engineering plc Weir Group. ‘Certainly the number of Scottish-based plc GCs is thin on the ground and
it’s dwindling.’
The professional life of a public company general counsel in Scotland can feel isolated at times. As a member of a small club, opportunities to plug into the professional networks that their peers in the South East of England take for granted can be limited. ‘We do get a sense sometimes that we are a decreasing community!’ confesses Christopher Morgan, GC and company secretary at Glasgow-based engineering plc Weir Group. ‘Certainly the number of Scottish-based plc GCs is thin on the ground and
it’s dwindling.’
To highlight the strength of Scotland’s GC community, The In-House Lawyer profiles some of the nation’s leading buy-side lawyers.
Continue reading “The shortlist: 15 of Scotland’s leading in-house lawyers discuss their roles”
To highlight the strength of Scotland’s GC community, The In-House Lawyer profiles some of the nation’s leading buy-side lawyers.
Continue reading “The shortlist: 15 of Scotland’s leading in-house lawyers discuss their roles”
In 1994, a young South African lawyer named Kevin Gold was sitting in his office at central London practice Bayer Rosin flipping a coin to decide the future of the firm he ran. ‘Heads or tails… Olswang or SJ Berwin…’ A third, lesser-known firm was also at the back of his mind: Mishcon de Reya. It was no coincidence the three firms were vying for Bayer’s hand. Formed in 1985 and specialising in litigation, corporate, private client and real estate work, the nine-partner firm was a highly profitable little outfit with revenues of £9m and strong ties to lucrative South African business.
In 1994, a young South African lawyer named Kevin Gold was sitting in his office at central London practice Bayer Rosin flipping a coin to decide the future of the firm he ran. ‘Heads or tails… Olswang or SJ Berwin…’ A third, lesser-known firm was also at the back of his mind: Mishcon de Reya. It was no coincidence the three firms were vying for Bayer’s hand. Formed in 1985 and specialising in litigation, corporate, private client and real estate work, the nine-partner firm was a highly profitable little outfit with revenues of £9m and strong ties to lucrative South African business.
In our recent Insight report on business and human rights – published in September in association with Herbert Smith Freehills – we noted how the arrival of the Modern Slavery Act (MSA) in the UK in 2015 has crystallised awareness of the human rights concerns in business. We heard from in-house human rights experts how the debate over the last 15 years had moved beyond a vague concept to which lip service had been paid to become a mainstream business consideration, combining legal liability with potentially devastating reputational risk.
In our recent Insight report on business and human rights – published in September in association with Herbert Smith Freehills – we noted how the arrival of the Modern Slavery Act (MSA) in the UK in 2015 has crystallised awareness of the human rights concerns in business. We heard from in-house human rights experts how the debate over the last 15 years had moved beyond a vague concept to which lip service had been paid to become a mainstream business consideration, combining legal liability with potentially devastating reputational risk.
Alison Gaskins’ remit on joining Barclays’ legal department was formidable. Group general counsel Bob Hoyt told her in no uncertain terms: ‘I want to be able to have a conversation with my CEO which clearly states what the legal department is doing for its internal customers, including what it costs and why it costs what it does.’ A former management consultant with over ten years’ experience in COO and change management roles at Barclays, even Gaskins was initially daunted by the scope of this request. But it became clear that by understanding the underlying economics of Barclays’ legal department and how they can be influenced, it would be possible to revolutionise how legal services were delivered to the business. The process has to date covered five interlinked aspects: matter management, e-billing, the law firm panel, lawyer time recording and management information (MI).
Alison Gaskins’ remit on joining Barclays’ legal department was formidable. Group general counsel Bob Hoyt told her in no uncertain terms: ‘I want to be able to have a conversation with my CEO which clearly states what the legal department is doing for its internal customers, including what it costs and why it costs what it does.’ A former management consultant with over ten years’ experience in COO and change management roles at Barclays, even Gaskins was initially daunted by the scope of this request. But it became clear that by understanding the underlying economics of Barclays’ legal department and how they can be influenced, it would be possible to revolutionise how legal services were delivered to the business. The process has to date covered five interlinked aspects: matter management, e-billing, the law firm panel, lawyer time recording and management information (MI).
Collaboration has, admittedly, become something of a buzzword in the legal profession these days. But all signs suggest that it is far more than a passing fad. Throughout the legal world, as in most knowledge-based industries, two trends are crashing together. On the one hand, vast increases in knowledge are forcing professionals to specialise, whether by discipline, geography or problem class. On the other hand, vast increases in the complexity of today’s problems call for those specialists to collaborate across disciplinary and organisational boundaries to tackle those sophisticated issues. In short, the tension between these two trends is what produces the need for effective collaboration.
