Legal Business

Perspectives: Maria Varsellona, Nokia

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Nokia’s transformation over the last few years has tested the leadership skills of all function heads. In April 2014 it completed the $7.2bn sale of its handsets business to Microsoft, and by January 2016 its $16.6bn acquisition of Alcatel-Lucent was in place, cementing its transition from a large phone producer to an even larger networking and IT business.

In spite of the changes, core elements of Nokia remain in place, including its respected learning and development centre, the Nokia Academy. A group-wide emphasis on training, says Maria Varsellona, who joined Nokia Solutions as general counsel in 2013 and was promoted to chief legal officer of the wider Nokia group a year later, is at the heart of running a successful legal function.

Legal Business

Perspectives: Clare Wardle, Coca-Cola European Partners

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Recruited from FTSE 100 company Kingfisher to oversee the legal function at the newly-merged soft drink entity Coca-Cola European Partners (CCEP), Clare Wardle has plenty of leadership experience to undertake the challenge of integrating the three legal teams at Coca-Cola Enterprises, Coca-Cola Iberian Partners, and Coca-Cola Erfrischungsgetränke.

Wardle was called to the Bar in 1984 and moved to Lovells in 1986 where she worked for ten years before moving in-house – first at the Post Office, where she served as head of legal, before working as general counsel (GC) and company secretary at Tube Lines. She joined British retailer Kingfisher in 2010 as group legal director, taking over as group GC in 2012 where she became responsible for risk, governance, competition and compliance matters. Now based in Uxbridge, Wardle serves as a member of the executive leadership team at CCEP, reporting to chief executive John Brock and serving as legal adviser to company chair Sol Daurella.

Legal Business

Perspectives: Sabine Chalmers, Anheuser-Busch InBev

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‘The leadership aspect of my role has definitely increased as the company has grown,’ notes Sabine Chalmers, Anheuser-Busch InBev’s chief legal and corporate affairs officer. Following AB InBev’s $104bn acquisition of SABMiller, this is putting it mildly. Mega-deals aside, the need for leadership skills has also come with the broadening of the legal function at large corporations. ‘When I first started I was just responsible for legal. Since then I have taken on corporate affairs, communications, regulation, sustainability and corporate and social responsibility. Handling all that puts a big focus on leadership.’

Early in her career, Chalmers was given an enduring piece of advice by a chief executive. ‘If you want to spot a leader look for three things: judgement, influence and drive.’ It is a benchmark she has continued to use in measuring both her own progress and the potential of her team to step into more senior roles. ‘As a GC you are expected to get the law right and advise appropriately, but the big differentiator is the judgement you apply to that. If you don’t have the influence or the drive to take your judgements through to conclusion there’s no point in having the job of general counsel.’

Legal Business

Perspectives: Albert Wang, 3M

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‘There are all sorts of platitudes about leadership,’ says Albert Wang, general counsel (GC) for Asia-Pacific at 3M. ‘You hear them all the time: walk the talk, lead from the front, lead with integrity, and be authentic. They’re platitudes, but that doesn’t mean they’re not true. When I think about the leaders that have inspired me, all of those qualities resonate.’

Another platitude GCs slip into when discussing leadership is ‘talking the language of business’. This strikes a chord with the Shanghai-based Wang. ‘We have a very engineering and science-focused culture, and engineers talk in data. We used to see PowerPoint presentations that ran to hundreds of slides with overflow of information. There is now a trend to strip that detail out and simplify it into pictures or ideas or to develop a dialogue rather than a one-way presentation. It’s not about being updated, it’s about identifying problems and working out how the business can solve them. That, in essence, is talking the language of business.’

Legal Business

Perspectives: Suzanne Wise, Network Rail

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‘In the legal profession people don’t always let go quickly enough. That mentality can be destructive if it gets carried in-house,’ says Suzanne Wise, group general counsel (GC) and company secretary of Network Rail, the public body that owns and maintains the bulk of the UK’s railway infrastructure. For Wise, learning to let go is one of the distinguishing features of a successful GC.

‘You don’t get into the technical details of your function at a very senior level because discussions tend to be much more focused on the business as a whole, and the expectation is that you will take full part in those discussions. Communicating and influencing skills are very important if you want to move into a senior position in-house because an awful lot of what you find yourself doing is not legal work.’

Legal Business

‘Thinking space’: Reed Smith to collaborate with clients with launch of new Innovation Hub

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Reed Smith has made a concerted investment in the legal technology and innovation space with the launch today (4 October) of a dedicated ‘thinking space’, believed to be the first of its kind in London, after developing its own software to maximise efficiency in corporate deals.

The ‘Innovation Hub’ is the brainchild of global chief knowledge officer Lucy Dillon who has employed the former leader of Lexis Nexis’ new product development team, Alex Smith, to run it. Smith joins as the firm’s dedicated innovation manager, to be based in London. He will work internationally with clients to develop technology that cuts costs and enhances legal services.

As well today’s launch of a dedicated 538sq ft space in the City where clients can collaborate on projects with Reed Smith, as well as another 320 sq ft in New York, Reed Smith plans on launching the hub globally, with other cities yet to be confirmed.

The firm has no set budget for investments but in 2014 developed its own Deal Performance Platform – a suite of software built in-house which reduces legal costs and streamlines deal closing activities – and has also invested in executive education initiatives.

Dillon (pictured), who started planning the Innovation Hub six months ago, said: ‘We have already carved out some budget as part of our planning and will be focusing on investing that in the initiatives that show real promise and longevity. Our clients often come to us to help them to find clever solutions for changes affecting their businesses and we hope this initiative, and the dedicated spaces we are developing across the firm, will offer them thinking space to do just that.’

She added: ‘What we’ve been looking at is how tech is driving change for our clients. When you talk about fostering innovation, all the research says that you need put people in a different environment.’

As well as having the space available for clients to use, Reed Smith has a schedule of events to trigger collaboration between clients, the first of which will be focused on fintech.

Reed Smith’s move follows the launch of an insurance-focused innovation lab opened by DAC Beachcroft in July. While that hub has no dedicated space, the firm said it was setting up such an area in its Birmingham office. DAC’s offering has a team of 14 including lawyers, project managers, risk and IT managers.

Similarly, Dentons, which launched NextLaw in May 2015, already uses IBM Watson and earlier this year said it had invested in fee transparency firm Apperio.

victoria.young@legalease.co.uk

Legal Business

Tamara Box takes the reins of Reed Smith’s European practice in management restructure

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Reed Smith has carved up Roger Parker’s role as managing partner for Europe, the Middle East and Asia, with London finance star Tamara Box stepping up to become managing partner for Europe and the Middle East.

It’s a symbolic change for Reed Smith, with Parker having guided London-based Richards Butler through its merger with Reed Smith in 2007, and subsequently held a string of management roles overseeing the firm’s operations outside the US. While Reed Smith already had a presence in the UK, having acquired Warner Cranston in 2001, the combination with Richards Butler provided greater scale and pushed the firm’s internationalisation strategy.

Parker will now take a newly created role, Asia managing partner, as the firm ramps up its investment in that region. During his time as Europe, Middle East and Asia managing partner, Parker grew Reed Smith’s Asian practice to over 150 lawyers and oversaw the launches of offices in Singapore, Shanghai and Astana and Frankfurt.

Box (pictured), who joined Reed Smith five years ago from Berwin Leighton Paisner, has established herself as one of the firm’s biggest-billing partners in the region. She served as global chair of the firm’s financial industry group, one of Reed Smith’s cornerstone practices, ahead of taking the Europe and Middle East managing partner role. New York-based Ed Estrada will now head the financial industry group.

Speaking to Legal Business, Box said: ‘Our global industry and practice approach remains, but now with a greater regional focus to allow even more emphasis on the local development and execution of our strategy, and our interaction with clients. I look forward to further building our presence and key industry sectors in the region.’

Box and Parker have worked closely since the former’s arrival at Reed Smith, with the pair linking up to launch an office in Frankfurt last year through a large-scale lateral drive. Partners arrived from Mayer Brown; Orrick, Herrington & Sutcliffe; Willkie Farr & Gallagher and Jones Day to launch the firm in Frankfurt. As part of her new role Box will join the senior management team, expanding the leadership team to seven as Parker retains his place.

tom.moore@legalease.co.uk

Legal Business

Proskauer makes major LevFin play with Reed Smith partner Ben Davis

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US firm Proskauer Rose has hired leveraged finance partner Ben Davis from Reed Smith as it ramps up growth of its finance team in the City.

Davis leaves Reed Smith just two years after joining from Travers Smith, where he was promoted to partner in 2011. With Proskauer Rose growing its London arm around funds, private equity and finance, Davis’ practice, which is built up of alternative lenders, private equity sponsors and financial institutions, adds strength in a key area.

Focusing on both the mid-market and upper market, Davis has broad experience advising on unitranche loans, second lien facilities, mezzanine and high-yield bonds, as well as real estate finance.

Steven Ellis, co-head of Proskauer’s multi-tranche finance group, said: ‘Alternative lenders in the UK, and globally, require sophisticated legal counsel who truly understand their business objectives and can provide market insight on both sides of the pond.’

Davis’ arrival follows the recent additions of leveraged finance partner Alexander Griffith and private equity real estate duo Jo Owen and Vikki McKay from DLA Piper. Steven Davis, a big-name hire from King & Wood Mallesons where he once headed the firm’s European corporate practice, kick started the firm’s play for private equity M&A in London when he joined at the end of 2014.

The appointment of private equity deal doer James Howe from Kirkland & Ellis and Baker & McKenzie’s EMEA co-head of private equity Bruno Bertrand-Delfau followed in 2015.

‘Ben’s experience in leveraged finance matters fits perfectly within our corporate platform in London and globally, where we continue to serve asset managers in their most significant matters,’ said Mary Kuusisto, head of Proskauer’s London office.

tom.moore@legalease.co.uk

Legal Business

‘The next stage’: Reed Smith gets local law capability with Singapore alliance

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Reed Smith has entered into a formal alliance with Singaporean firm Resource Law giving the firm the capability to practice Singapore law for the first time.

The nine lawyer firm will work alongside Reed Smith’s 20 lawyer Singapore office, which opened in 2012 to support clients in the energy and natural resources sector. The Resource Law team is led by Mohan Subbaraman who left Ince & Co late last year.

With experience in advisory, transactional, corporate, and dispute resolution, Resource Law will compliment Reed Smith’s strengths with its own energy and natural resources specialisation, alongside maritime, financial industries, insurance and life sciences.

Subbaraman said Resource Law aims to mirror Reed Smith’s global strategy: ‘As Singapore consolidates its position as one of the world’s leading international dispute resolution, commodity trading, maritime and financial centres, I am confident our enhanced offering via the Formal Law Alliance will become even more important as we aim to support and grow these practice areas.’

He added: ‘We are also aiming to boost our practice in other growth areas for Singapore where Reed Smith is already a market leading firm globally such as life sciences, pharmaceuticals and regulatory work.’

The alliance follows Reed Smith’s continued strengthening of its Singapore office, taking on arbitration and disputes partners partners Calvin Chan and Kohe Hasan at the end of 2015 from Skadden, Arps, Slate, Meagher & Flom and Oon & Bazul respectively to enhance its energy and natural resources offering.

Reed Smith Singapore managing partner Barry Stimpson said: ‘In that time we have grown from five partners to a team of 20 lawyers practicing English, US, Australian and Hong Kong law and who can advise across the wide range of industries and practices in which we provide specialised advice.’

He added: ‘As we embark on the next stage of our growth in Singapore, we will collaborate closely with our alliance partner Resource Law LLC and together strive to make a contribution to the expansion of Singapore as a regional and international centre for legal services as well as affirming our commitment to the market and the needs of our clients.’

madeleine.farman@legalease.co.uk

Legal Business

Another Ashurst exit as restructuring partner Roberts quits for Reed Smith

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Ashurst has seen yet another partner exit with Reed Smith hiring restructuring partner Diane Roberts into its London office.

With experience representing market participants in the acquisition and disposition of debt products and other financial claims in complex leveraged debt restructurings, Roberts will bring her particular focus on cross-border insolvency issues in the UK, the United States and throughout Europe to Reed Smith’s global financial industry group.

Financial industry group global chair Tamara Box said: ‘We have built significant momentum growing our distressed debt and corporate trust practices, both in Europe and the United States, most recently with the addition of partners Andrew Callahan and Robert Scheininger in New York and Michelle Ross in Washington DC.’

Roberts (pictured) is the seventh high-profile partner to leave Ashurst this year. Equity capital markets partner Jonathan Parry and disputes specialist Mark Clarke both left the firm for White & Case while corporate partner Anthony Clare left for Stephenson Harwood. Financial institutions partner James Perry also departed in April for Gibson, Dunn & Crutcher.

In the last fortnight, Latham & Watkins took two other heavy hitters including financial regulation head Rob Moulton and restructuring partner Simon Baskerville.

Going the other way Ashurst has brought in several partners this year including TMT duo Nick Elverston and Amanda Hale from Herbert Smith Freehills. Real estate partners Darren Rogers, Patrick Williams and Robert Andrews moved from King & Wood Mallesons to Ashurst, along with DLA Piper’s international arbitration head Matthew Saunders. RBS head of EMEA loan markets Dave Rome also joins the firm’s banking practice, moving into a newly-created position of strategic director of corporate lending.

In its second year of tumbling revenues following its merger with Blake Dawson in 2013, Ashurst’s turnover dipped by £28m, bringing the firm’s revenues down 10% to £505m while profits per equity partner fell by 19%, down to £603,000 from £747,000 during the 2015/16 financial year.

Following this Ashurst has made plans to extend the firm’s lockstep ladder to 75 points up on the firm’s current 65 to help retain talent at the firm. Under the current proposals, which are yet to be voted on, the bottom of the ladder will remain at its current 25.

madeleine.farman@legalease.co.uk