Norton Rose dispute resolution partner Philip Reed has quit the firm to join Threadneedle Investments, the UK’s fourth largest retail investment funds manager, as general counsel.
The general counsel position is a newly created role for the company that will have board influence and will oversee the combined legal and compliance functions, a total in-house team of 32.
Mark Cooper is to remain head of legal, following his promotion to the role after the departure of Tom O’Connor, who joined Barclays Global Investors as head of legal for Europe in July 2005 (The Lawyer, 18 July 2005).
Cooper, who has been with the company since 2002, maintains day-to-day responsibility for the legal function, and will report to Reed. A similar situation will exist for head of compliance Gareth Taylor.
Reed is a solicitor advocate, and one of the founding partners of Norton Rose’s securities litigation group. He joined the London office of Norton Rose in 1998 after 13 years at the Bar, and was made a partner in 2001.
Reed joins Threadneedle on 29 January to head the merged legal and company secretariat department and will report to Threadneedle managing director Crispin Henderson.
Henderson said in a statement: “[Reed] will play a major role in our senior management team, uniting our fully professional in-house legal and compliance functions to grow and enhance our first-class service to the business and its clients.”
Threadneedle is a diversified investment business focusing on equities, bonds, property and hedge funds and had a total £72bn worth of assets under management at 31 December 2006.