Profile: Michael Shaw, Barclays

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The banking giant’s deputy GC discusses management challenges

Barclays deputy general counsel (GC) Michael Shaw has proved himself to be highly adaptable since joining the bank in 2009 from legacy Herbert Smith.

It was in 2010 that the outside world witnessed the knock-on effect of Barclays Capital head Jonathan Hughes stepping down, after which Judith Shepherd moved into the role, leaving vacant her position as GC of retail and business banking (RBB). For seven months Shaw stood in as interim RBB GC before Mark Chapman was appointed in October 2010.

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Lloyds sees knock-on effect of GC for group legal hire

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In-house promotions and moves often have a domino effect across the wider legal function and Lloyds Banking Group (LBG) is no exception. The major British financial institution has recently announced that former corporate M&A head Hugh Pugsley will take over as general counsel (GC) for group legal from Kate Cheetham, who was promoted to deputy GC this January.

Pugsley, a former associate at Allen & Overy, has moved up the ranks of the 60-strong team and will now be responsible for advising the banking giant on financial reporting, M&A, corporate development, HR, and property-related issues.

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Status update: Gibson Dunn partner hired as Facebook deputy GC

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Social media giant Facebook has appointed Gibson, Dunn & Crutcher’s co-head of IT and data privacy Ashlie Beringer as deputy general counsel (GC), just weeks after Twitter announced Vijaya Gadde will take over as GC of the online social networking group.

Beringer takes over from Colin Stretch, who this summer succeeded Ted Ullyot as vice president and GC, following Ullyot’s announcement in May that he would be stepping down. Continue reading “Status update: Gibson Dunn partner hired as Facebook deputy GC”

Moving in-house: Broker AKJ brings in former LSE-lawyer as first general counsel

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The trend of companies increasingly enhancing their teams to include sophisticated and growing in-house legal departments shows little sign of abating as independent brokerage and financial software group AKJ becomes the latest to boost its legal capabilities, hiring its first general counsel and in-house lawyer, the former legal chief for the London Stock Exchange Tom Mackay.

Announced yesterday (19 Sept), Mackay has acted as an external legal consultant for AKJ for over 12 years however, with the establishment and growth of fund AKJ Accelerator last year, the group has created a senior position for the veteran.

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In-house: Lloyds Banking Group sees knock-on effect at senior level as it fills GC for group legal role

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In-house promotions and moves often have a domino effect across the entire legal function and Lloyds Banking Group (LBG) is no exception. The major British financial institution has most recently announced that former corporate M&A head Hugh Pugsley will take over as general counsel for group legal from Kate Cheetham, who was promoted to deputy general counsel in January this year.

Pugsley, a former associate at Magic Circle firm Allen & Overy, has moved up the ranks of the 60-strong team and will now be responsible for advising the global banking giant on financial reporting, M&A, corporate development, HR, and property-related issues. Continue reading “In-house: Lloyds Banking Group sees knock-on effect at senior level as it fills GC for group legal role”

Comment: Why the in-house triumph over law firms may prove short-lived

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In the decade prior to the collapse of Lehman Brothers, an excess of work masked the corrosive effect to law firms from competition with increasingly sophisticated and growing in-house legal departments (C&I teams). Post-Lehman, the economic downturn has exposed significant structural challenges to overstaffed law firms, which have been ruthlessly exploited by C&I to decisively shift the balance of power in favour of clients. Nevertheless, the triumph of in-house, measured by its rapid growth and ability to wrest increasingly complex work from law firms while simultaneously squeezing them on rates, may prove to be short-lived.  Continue reading “Comment: Why the in-house triumph over law firms may prove short-lived”

In-house: Clifford Chance and Slaughter and May lawyers take senior roles at CMA, Shell and PwC

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Magic circle lawyers have this week filled a number of senior regulatory and in-house positions, with a Slaughter and May partner unveiled as general counsel of the new Competition and Markets Authority (CMA) and a former lawyer named Shell‘s UK legal head; while Clifford Chance‘s head of employee benefits has joined PwC as a director in its employee rewards team.

The CMA – the new body which brings together the Competition Commission and and some consumer functions of the Office of Fair Trading- yesterday (12 September) announced the appointment of former Slaughter and May partner Sarah Cardell as GC as it completes its leadership team in time for its official launch on 1 October. Continue reading “In-house: Clifford Chance and Slaughter and May lawyers take senior roles at CMA, Shell and PwC”

That bright shiny idea – the in-house teams trying to move from costs to business driver

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With mounting pressure on legal teams to up productivity, a handful of pioneering GCs have attempted the fundamental shift towards becoming a commercial centre

‘A lot of people like to be seen to be innovative,’ says Richard Susskind, author of Tomorrow’s Lawyers, ‘but one shouldn’t pursue innovation in and of itself, it’s got to be relevant.’

While this means different things to different industries at different times, within the context of the in-house legal community in the grip of an enduring economic malaise, there can be little more relevant than the innovations of departments that have turned themselves from traditional cost centres into profit-generating or business development limbs of the overall enterprise.

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The Client: Philip Bramwell – BAE Systems

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Caroline Hill talks to the plain-speaking general counsel

When BAE Systems’ group general counsel (GC) Philip Bramwell started out as a lawyer in the pharmaceuticals industry, his mother approved on the basis that ‘everybody gets sick’. But as the assertive corporate veteran set out on the deliberate path to change industry every few years, she was less convinced by his switch from BT to O2 in 2001, observing that mobile phones were somewhere between a brick and a car battery and ‘no-one would be so rude as to walk around talking on them’.

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Dissent: Why the in-house triumph over law firms may prove short-lived

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Scott Gibson and Kristi Edwards argue that GCs have secured a short-term advantage over their external advisers at the risk of undermining their own position

In the decade prior to the collapse of Lehman Brothers, an excess of work masked the corrosive effect to law firms from competition with increasingly sophisticated and growing in-house legal departments (C&I teams). Post-Lehman, the economic downturn has exposed significant structural challenges to overstaffed law firms, which have been ruthlessly exploited by C&I to decisively shift the balance of power in favour of clients.

Continue reading “Dissent: Why the in-house triumph over law firms may prove short-lived”