The European Investment Bank (EIB) has split its in-house legal team in two, with one group now focusing on operations and the other on corporate.
The Luxembourg-headquartered bank separated the teams at the beginning of this month, promoting in-house lawyer Nicola Barr to the role of director of corporate and Gerhard Hütz to deputy general counsel and head of operations. The move comes after the EIB has seen several key management changes in recent years.
In 2006 former general counsel Eberhard Ulhman retired from his role and was replaced by current general counsel Alfonso Querejeta. In March this year the bank’s deputy general counsel Marc Dufresne retired. Barr’s corporate division incorporates a team advising the bank on data protection and financial issues.
Hütz’s operations team is divided into six subsections, with five regional European teams and one team dedicated to restructuring, new products and fund management. Earlier this year (27 April) The Lawyer reported on the EIB’s legal team advising the bank on its role in establishing a $100m (£60.4m) turnaround fund in Egypt.
The fund was run by Sphinx Private Equity, which was advised by the London office of Baker & McKenzie. The legal team was unavailable for comment.