Hello and welcome to the Fides Weekly Update. Take a look at this week’s key trends, moves and developments in legal and compliance.
Tweet us @Fides_Search to let us know your thoughts.
This week:
1). NEW WHITE PAPER RELEASE: How to make your law firm more inclusive – A ten step guide
This week sees the release of our latest white paper on Inclusion and Wellbeing, published in collaboration with byrne.dean.
‘How to make your law firm more inclusive – A ten step guide’ builds on industry research and expert insight to provide a list of steps that individuals, senior management and HR and D&I professionals can take to increase the inclusion and wellbeing of people within their firm.
We hope you enjoy!
For further information about the Inclusion and Diversity thought leadership initiative at Fides, please contact eclews@fidessearch.com.
2). SFO’s criminal charges against Barclays bank fall at first hurdle
After a five year investigation from the Serious Fraud Office, Barclays announced on Monday that the conspiracy to commit fraud charges against the bank had been dropped by the Crown Court.
This centred around the alleged financial assistance that Barclays gave to Qatar at the height of the financial crisis, more specifically a $3bn loan to directly or indirectly acquire shares in a fundraising which helped the bank avoid state bailout.
This is seen as a victory for Barclays, which recently settled a probe into its handling of a whistleblower as well as a $2bn mortgage selling case in the US.
However, charges against the bank’s former chief executive John Varley, and other top managers Roger Jenkins, Thomas Kalaris and Richard Boath remain in place, with a criminal trial scheduled in January 2019.
The SFO said it was considering its position in the light of the ruling, although many believe it will bring a voluntary bill of indictment against the bank, a rare legal process which means any fresh charges against the bank must be approved by a high court judge.
As the first set of charges in the UK to be brought against a bank for actions taken during the financial crisis, the decision is a major setback for the SFO which has investigated the case for five years and is now without a permanent director following the departure of David Green last month.
With a replacement yet to be named, questions continue about the future of the organisation and whether or not it will be subsumed into the National Crime Agency.
3). Movers & Shakers
Panel Watch
UBS weighs up new formal EMEA litigation panel launch
Appointments
Taylor Wessing picks new managing partner to replace longstanding leader Eyles
Leapfrog takes on new general counsel after Linklaters exit
Clifford Chance searches for diversity head after gender pay gap report
Moves
Linklaters M&A star exits for Paul Hastings
Linklaters heavyweight M&A partner Roger Barron is exiting the firm after 17 years to join Paul Hastings in London.
Norton Rose hit with mass defection as 15-strong team exit to Reed Smith
A team of 15 lawyers across four different US offices of Norton Rose Fulbright offices have moved to join Reed Smith. Two associates, Selina Coleman (Washington DC) and Sara Brinkmann (Houston), will be made up to partner as part of the move.
Freshfields hires KWM “rising star” to join management in China
Freshfields Bruckhaus Deringer has hired King & Wood Mallesons (KWM) Beijing partner Hazel Yin to co-head the competition practice in China.
Office Openings & Closings
Dentons becomes first global firm to enter Hawaii after local tie-up
Linklaters becomes first magic circle firm to secure Chinese law capability
Hogan Lovells pulls out of Venezuela amid political and economic upheaval
Clifford Chance to launch new delivery hubs in global innovation boost