If your legal budget is starting to resemble a grape in the sun, what you need is a go-getting GC to teach you how to make wine out of raisins. Today’s inspiration is Aviva Group’s GC Monica Risam, who had been in the post for less than 18 months when she kicked off the insurance giant’s first major law firm panel review in five years.
The job was no piece of fruit cake – there’s nothing like a chief executive hammering on about costs (a £400m cost-cutting plan, to be exact) to encourage heads of legal to cast a sharp eye over private practice suppliers and their fees. Risam steered clear of anything resembling a beauty parade and demanded a 15-25 per cent headline fee discount for firms pitching for the panel. Although costs were shrinking like vines in a heatwave, she wasn’t going to hang about waiting for others to take the initiative.
If you want the juicy details on the process, you’ll have to cast your eye over our lead feature. Sorry, that glass of red will have to wait.
Also on TheLawyer.com:
- The associate general counsel of Bank of America (BofA) Merrill Lynch, Richard Atkinson, has taken up a general counsel role at New York independent advisory firm StormHarbour
- A £100m courtroom victory – and at a slice of expected costs – is a pretty good way for Standard Life general counsel Malcolm Wood to prove the value of his team
- In-house lawyers at global food conglomerate Heinz are facing redundancy in the UK and Ireland after the ketchup-maker cut 600 office positions across the US