‘A reaction’: Deutsche Bank to establish new EMEA anti-fraud, bribery and corruption team

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‘A reaction’: Deutsche Bank to establish new EMEA anti-fraud, bribery and corruption team

After being hit by a number of recent financial crime and anti-money laundering scandals, Deutsche Bank moved to establish a new anti-fraud, bribery and corruption team for the EMEA region last month.

The bank is looking to fill 400 positions this year globally in anti-financial crime and is recruiting for a new team in Europe to be led by regional head of anti-financial crime, Thomas Altenbach. The team will sit outside of the legal function, with four new recruits: one hire at director level and three other individuals with experience in anti-fraud, bribery and corruption matters. Deutsche Bank anti-fraud teams have historically comprised both legal and compliance professionals.

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‘It’s good to talk’ – Linklaters repositions with focus on team work, innovation and a lot more soft stuff

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‘It’s good to talk’ – Linklaters repositions with focus on team work, innovation and a lot more soft stuff

Matthew Field meets Linklaters leadership as City giant outlines a much-changed agenda

For observers familiar with the legacy of former Linklaters chief Tony Angel, the rhetoric coming out of Silk Street right now could not be more of a break from the past.

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Playing catch-up: CC to push on with remuneration changes

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Playing catch-up: CC to push on with remuneration changes

While its Magic Circle peers have made significant progress with modifying their locksteps to attract and retain talent, Clifford Chance (CC) is dragging its feet on implementing proposals voted in nearly two years ago.

In 2015 CC made amendments to its pay structure to allow leading partners to go up to 130 points, while plateau partners, as well as teams and geographies contributing less may be brought down and capped at 70. The ladder previously ranged from 40-100.

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Gateley makes approaches to secure new Scottish tie-up

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Gateley makes approaches to secure new Scottish tie-up

With the merger between its former Scottish arm and Addleshaw Goddard due to go live on 1 June, Gateley is looking at options for a new Scottish tie-up and has approached a number of firms in the market.

According to one Scottish partner, Anderson Strathern, which has offices in Edinburgh, Glasgow and East Lothian, would be the most likely option for a tie-up.

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‘This latest round has been disappointing’: A&O vows to address lack of diversity as Magic Circle announces new partners

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‘This latest round has been disappointing’: A&O vows to address lack of diversity as Magic Circle announces new partners

Allen & Overy (A&O) promoted just two women to partnership last month, 8% of its total round, with the firm stating it is working towards three clear 2020 targets to address the diversity concerns.

The targets include having 20% female partners; at least 30% women in each promotion round; and 30% of women in its partnership in non-elected leadership roles.

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‘It’s not surprising’: Six finance partners leave Freshfields in practice shake-up

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‘It’s not surprising’: Six finance partners leave Freshfields in practice shake-up

Changes follow on from 2016 strategic review

Six finance partners left Freshfields Bruckhaus Deringer at the end of April, with two more losing equity status as the Magic Circle law firm implemented a restructure of its finance practice.

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‘Glaring defaults’: SDT hits Clyde & Co with record fine under anti-money laundering rules

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‘Glaring defaults’: SDT hits Clyde & Co with record fine under anti-money laundering rules

In the joint-largest fine ever handed down to a law firm, in March Clyde & Co was hit with a £50,000 penalty for breaching accounting and money laundering rules. In a Solicitors Disciplinary Tribunal (SDT) decision, Clydes corporate partners Christopher Duffy and Simon Gamblin, alongside projects partner Nick Purnell, all received individual fines of £10,000.

The charges related to the use of a client bank account as a banking facility, in direct breach of the Solicitors Regulation Authority (SRA)’s money laundering regulations. Duffy and Purnell admitted they failed to take on guidance of the Law Society’s rules on fraudulent financial arrangements in acting as an escrow agent on behalf of the client.

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‘Just get on with it’: City partners fear yet more uncertainty ahead of general election

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‘Just get on with it’: City partners fear yet more uncertainty ahead of general election

As Theresa May’s call for a general election on 8 June came as a surprise to many in the City, law firm partners say their UK clients will be dogged by yet more uncertainty.

The announcement last month came as the polls suggest a clear lead for the Conservative Party, while May said she is seeking a direct mandate for her plan to deliver a smooth British exit from the EU.

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‘The real work starts now’: profession reacts as regulator makes radical changes to legal training

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‘The real work starts now’: profession reacts as regulator makes radical changes to legal training

Super-exam to be used from September 2020

Despite some considerable hostility, the Solicitors Regulation Authority (SRA) announced last month that its planned Solicitors Qualifying Examination (SQE), dubbed ‘the super exam’, will be used from September 2020.

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