The merged legal department of Bank of America and Merrill Lynch, with around 700 lawyers, is looking at pending layoffs. The bank’s lawyers are being required to reapply for their own jobs, which is invariably a precursor to cuts. Bank of America, based in Charlotte, North Carolina is the largest financial services company in the world, largest [...]
Continue reading...Thursday, April 2, 2009
According to the 2009 Barometer survey of Canadian in-house counsel, 66% of in-house lawyers feel the economic situation has affected their legal department; 59% say they are conducting more work internally compared with six months ago; 75% of in-house counsel surveyed say that their legal departments have taken steps to rein in costs. The survey reports [...]
Continue reading...Monday, March 23, 2009
Firms including Hyatt, Cigna, General Electric, Motorola, Merrill Lynch and Yahoo! have cut the number of attorneys in their law departments during the past year, as corporations slash budgets in the economic meltdown. This year the Association of Corporate Counsel’s membership has dropped for the first time since 2003, declining by almost 6% to 23,396 this [...]
Continue reading...Wednesday, March 4, 2009
Apax Partners, a private equity group, is preparing to hire its first global general counsel. Apax joins a growing list of funds hiring in-house attorneys. Last year private equity fund Bridgepoint hired Travers Smith partner Charles Barter as its general counsel. TheLawyer.com says that the Apax job will be London-based and is expected to pay between 250,000 [...]
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Monday, April 20, 2009
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