Morgan Stanley Legal ChiefAdmin
Friday`s discussion on Fordham Law also touched on other structural issues of the big law, such as diversity and inclusion, recruitment, retaining young lawyers in a tight market for talent, and how companies can differentiate themselves and attract clients in a highly competitive legal services industry. “It`s about providing any kind of legal service: dispute resolution, transactions, regulation, taxes, employment, marriage, I don`t care what it is,” said Grossman, who, when he`s not commenting on legal issues, has also talked about fixing America`s fractured political landscape. Grossman, a former partner at Davis Polk in New York, joined Morgan Stanley in 2006 as Global Head of Litigation. The New York-based firm promoted him to general counsel in 2012, replacing Francis Barron, who only held the position 18 months after succeeding Gary Lynch in 2010. In April, Vodafone said it had selected its updated legal body on these companies` commitments to improving diversity. British law firm Magic Circle, Slaughter & May, one of Vodafone`s law firms, this month unveiled a trio of part-time work programs to support more sustainable work practices for its lawyers. Chris Boyd, chief operating officer of Wilson Sonsini Goodrich & Rosati, praised the benefits of personal work for the firm`s clients and lawyers in an interview in June, but said five days a week in the office “will probably never be expected again.” It turns out that some customers want the old normal. And it could complicate efforts to strike a balance between competition for business and competition for talent in a burgeoning legal market. General Electric`s Denniston Scholarship is an innovative and practical initiative to change the face of the legal profession. GC spoke with Tom LaFrance, general counsel at GE Transportation, who developed the idea, and Marina Merjan, the first Denniston Fellow. Nell O`Donnell, General Counsel at Brocade, is responsible for the firm`s global legal work. She spoke to GC about Brocade`s diversity initiatives.
Diversity and inclusion are core values for Bank of Montreal, both as a business necessity and as an enterprise value. GC sat down with Caroline Tsai, and Chicago-based Assistant General Counsel Caroline Tsai, to learn more about the bank`s commitment to diversity and how in-house legal departments are taking the lead. Donald G. Kempf, Morgan Stanley`s chief legal counsel since 1999, will leave the firm as announced. “We appreciate all that Don Kempf has brought to Morgan Stanley over the past six years and wish him well in his future endeavours,” Mack said. Eric Grossman, General Counsel at Morgan Stanley, talks to GC about the effectiveness of sponsorship and the role it plays in ensuring that different candidates have ways to advance in the legal department. David W. Heleniak, who joined Morgan Stanley in May 2005 as Vice Chairman, Managing Director and member of the Executive Committee, will focus on key strategic issues for the firm as well as Morgan Stanley`s investment banking business as a member of the Chairman`s Office. The firm`s legal department will report to Mr. Heleniak until Mr.
Lynch joins the firm. Eric Grossman, chief legal officer of Morgan Stanley, warned that law firms that maintain remote work practices instead of returning to the office will be at a disadvantage. Eric Grossman, Morgan Stanley`s longtime chief counsel, caused consternation in the industry late last week with a “warning” to the bank`s external law firms about their policies allowing remote work and “the lack of urgency to bring lawyers back to the office.” Eric Grossman, Morgan Stanley`s chief legal officer, on Thursday sent a memo to law firms and legal services firms encouraging them to improve customer service by allowing lawyers and staff to return to the office, according to a company representative. Grossman`s memo suggested that those who continue to operate remotely risk their relationship with the financial services giant. It should be easier to progress when you have 60,000 people in your organization, but it`s just as true that the law of numbers makes it difficult to move the needle. So I focused on what we can do in my own department, legal and compliance. But as we know, the work does not end with a few key parameters. Proper care and nutrition of these key settings is essential to their development and ultimate success. The distinction between mentoring and sponsorship is crucial; A mentor is someone you can talk to about problems or long-term career goals. A sponsor is someone who recognizes your high potential and can stand up for you. I expect members of my leadership team to act as both mentors and sponsors, just as I have done for women and various employees who were later promoted to CEO and have taken on leadership roles in legal and compliance, as well as in the companies we support. I require my managers to participate in promoting those on the diverse sponsorship list, and I will encourage those who deliver.
Following GC`s recent launch of the “Bring your fully self to work” initiative, which aims to promote inclusion in the legal team globally, GC spoke with Rhanda Moussa and Jane Son, in-house lawyers who are co-chairs of the Diversity and Inclusion Committee for Law in the Americas, and Mark Chamberlain, Head of Diversity in the Americas at Barclays. Find out how this new initiative fits into the bank`s broader agenda of inclusion activities. Mr. Mack said, “Having worked closely with Gary over the years, I know first-hand the integrity and judgment he brings to an organization. Gary has a proven track record of building a strong culture of compliance and effectively resolving complex regulatory and procedural issues. A former head of the SEC`s enforcement division, he has had a distinguished career in the public service and has extensive experience in the financial and legal sectors. As we strive to maintain the highest standards of professional conduct and build effective relationships with all of our regulators and other key stakeholders around the world, Gary will play a vital role within the firm. Lynch graduated from Syracuse University, Phi Beta Kappa in 1972.
He received his J.D. from Duke University School of Law in 1975. A frequent speaker on a variety of topics related to federal securities laws, Mr. Lynch is a regular guest speaker on the Faculty of Legal Education programs. Grossman, Morgan Stanley`s longtime general counsel and one of Wall Street`s highest-paid lawyers, said in a July memo to law firms and outside legal services firms that they should stop working remotely and bring lawyers back to the office.