Some potentially heartening news has arrived from the Takeover Panel as far as lawyers are concerned: one of their own will be the panel’s director general in the new year.
Or at least, he used to be a lawyer. Robert Hingley was at Coward Chance (predecessor to Clifford Chance) in the 1980s. He’s since progressed to Lexicon Partners by way of Schroders and Citigroup, and in his spare time is chief financial officer for Save the Children.
Lawyers are not overly represented at the panel, despite Allen & Overy veteran corporate partner Alan Paul sitting on its code committee. While representative organisations such as the Confederation of British Industry nominate members of the panel, the Law Society is not on the panel’s list of nominating bodies.
The incumbent director general Mark Warham will return to Morgan Stanley, where he was formerly UK head of M&A. Although Warham has wielded some power this year, even he is beholden to the so-called summer weather lashing down. “I’ve got a garden party tomorrow with 100 people coming,” he sighed. “I hope they bring their wellies.”