The Mindful Business Charter is ‘clapping with one hand’ until more businesses adopt the mental health initiative, with in-house legal departments making up less than a quarter of the 38 signatories.
The charter, devised by banking giant Barclays alongside law firms Pinsent Masons and Addleshaw Goddard, added another 17 organisations today (10 October). It aims to cut down on workplace practices that contribute to stress and poor mental health among lawyers, such as encouraging people to be clear in emails when they need a response if sent outside business hours and not expecting people on annual leave to be on call. Continue reading “Clapping with one hand: clients continue to lag as another 12 law firms join Mindful Business Charter”
CMS has dropped off Lloyds Banking Group’s core panel of advisers after a review which reshaped the roster into two lots.
A total of 25 firms are understood to have been appointed, split between a smaller number of core firms and a group of general firms. It was the bank’s first panel review since 2016, when DLA Piper and Norton Rose Fulbright lost their spots as the core panel shrunk from ten to eight firms. Continue reading “In-house: CMS bumped as core adviser following Lloyds panel review”
Major companies are pressing external counsel to pay to compete for adviser spots in a move set to be resisted by some major law firms. The practice sees law firms paying to be ‘validated’ by a procurement company, effectively pushing the cost of the agency onto the pitching law firms. One prominent case has been National Grid’s ongoing panel review. Santander has also used a comparable model on a recent pitch.
The National Grid panel review, covering a range of work understood to be worth about £12m a year in the UK alone, began six months ago and is due to be finalised at the end of November. Six to ten spots are available on its roster, which is being reduced from 12 advisers. Continue reading “Pay to play – Bluechip clients force law firms to pay to pitch as GCs flex buying power”
The crisis engulfing high-street retailers is showing few signs of abating. May saw the public collapse of almost the entirety of Jamie Oliver’s restaurant eateries, and in June, retail tycoon Philip Green’s Arcadia empire narrowly avoided bankruptcy with a rescue deal severing some 50 clothing stores.
According to data from Deloitte, 125 retailers went into administration last year compared to 118 in 2017, including 26 large companies. Continue reading “Under pressure – Retail GCs fight to adapt to a brutal High Street”
2018 was a good year for Indian entrepreneurs. The world’s third-largest start-up ecosystem saw its base expand by 12-15% and investor funding grow by 108% year-on-year, as well as a rise in late-stage funding, according to a 2018 report by industry association NASSCOM and consultants Zinnov. This boom was last year enough to hand unicorn status – valuations on young tech companies of more than $1bn – to more than eight Indian companies.
But just a few years ago, things were not quite so rosy. Despite the success of e-commerce wunderkind Flipkart (sold last year to Walmart for $16bn) and its ilk, investment plummeted from $1.42bn to $583m between Q1 and Q2 2016 (according to CB Insights, October 2016) and businesses started to go under. Continue reading “Start-ups in India – Reaping what you sow”
Is the job of the legal function to be the ringmaster and cheerleader, managing risk and compliance effectively within an organisation? Should it have to win over the hearts and minds of the board just as much as those on the front line? These were the main discussion points of a recent panel debate between nearly 20 in-house lawyers and private practice risk management specialists gathered at Mayer Brown’s London offices this summer.
David Harrison, Mayer Brown: A common challenge across practice areas is how to move away from historical perceptions of compliance and risk – that this is for the lawyers and could get in the way of the business, with the result that it’s underfunded. It often takes a crisis, typically an investigation or a major breach, for significant resources to be deployed. Continue reading “The in-house debate: Run the risk”
As the world’s second most populous country, India accounts for 17.5% of the world’s population. And it is rapidly catching up with the number one, China. On an annual basis, India’s population growth rate of 1.2% is more than double that of its Asian neighbour.
But while population growth is largely seen as a means of economic development, it comes with costs. The burden on cities and infrastructure of a rapidly-growing population must be addressed if the country is to reach its full potential. The need is such that the infrastructure question was a cornerstone of this year’s election. The Bharatiya Janata Party, led by returning Prime Minister Narendra Modi, pledged $1.44trn towards infrastructure – a stark contrast to its main opponent, the Congress Party, which instead focused on alleviating poverty and job creation. Continue reading “Project India – Meet the GCs charged with building on a vast scale”
Pinsent Masons has regained its spot on Siemens’ UK panel in favour of Osborne Clarke after the conglomerate’s latest legal adviser review.
Undertaken by Simone Davina, Siemens’ UK and Ireland general counsel (GC), Pinsents joins Addleshaw Goddard and Eversheds Sutherland who have both been reappointed advisers for another three years.
Continue reading “In-house: Pinsents replaces Osborne Clarke spot on Siemens UK panel”
Adding to recent high-profile in-house appointments, former Skyscanner legal chief Carolyn Jameson (pictured) has been appointed chief legal and policy officer at consumer review website Trustpilot, while Gowling WLG has become sole legal adviser to the Birmingham 2022 Commonwealth Games.
GC Powerlist-regular Jameson, who earlier in the year announced her departure from high-profile travel metasearch engine Skyscanner after six years, will oversee global legal and public affairs at Trustpilot from the UK and Denmark. Continue reading “In-house: Trustpilot bags former Skyscanner legal chief as Gowling scores sole Commonwealth Games mandate”