Thomson Reuters has unveiled a restructured legal team following the firms’ merger and installed a new general counsel for Europe.
Reuters lawyer Daragh Fagan has taken over as head of the Europe, Middle East and Africa markets legal team as well as UK corporate governance after joining from Italian energy company ENI last September.
Fagan ;said ;he ;did not expect redundancies in his 15-strong merged legal team, but that the group could lose existing vacancies for new lawyers.
“The company has cost-cutting targets and the legal function isn’t exempt from that,” he said.
“There are no definite plans at the moment, but we’ll need to have a review at some point and consolidate,” said Fagan.
The ;company ;has divided the legal team into business units, each with their own general counsel, and the Reuters business news ;and ;Thompson financial information units have been merged to form the markets group. The professional information department for scientific, legal, healthcare and tax information ;has ;been split into four subgroups, each with its own general counsel.
The ;£8.7bn ;merger between ;Reuters ;and Thomson ;was ;first announced in May 2007, but changes to the structure of the legal team only officially came into effect at the end of last month.