Real estate giant Land Securities has shelved its plans to recruit a group general counsel.
The FTSE100 business began the search in September last year (The Lawyer, 7 September 2006) and would have become the first major property development company to have a dedicated commercial in-house legal function.
The company was looking for a group general counsel, reporting to chief operating officer Mark Collins, to oversee corporate issues, as well as litigation, employment and finance matters.
A spokeswoman said: “I can confirm the appointment process has been put on hold. We’ve been trying to find the right candidate and the right time to interview and decided to postpone an announcement on what we’ll do until September.”
Land Securities is one of the few property investment and development companies with a developed in-house legal function.
Head of legal services Clive Ashcroft is responsible primarily for property-related legal issues.
Any movement will be watched closely by Land Securities chief property advisers Nabarro and Slaughter and May. Both firms had leading roles advising the company on its conversion to real estate investment trust tax status last year.