Henderson Global Investors’ UK in-house legal team has shrunk by nearly 30 per cent in the past year following a shift to farming out more of its lower-level work to law firms.
The investment manager’s legal department has decreased in size from 11 lawyers a year ago to eight currently, including general counsel Jacqui Irvine and a head of legal. The team covers Henderson Global Investors and its parent Henderson Group.
None of the three exits – including Josephine Bennett, who is now general counsel at LCM Partners – were a result of redundancies.
Irvine said the group had been working more closely with law firms on matters such as distributor agreements, with this change taking place over recent years.
Henderson uses firms including Nabarro for property deals and Simmons & Simmons for fund formation. Freshfields Bruckhaus Deringer is historically the main adviser to the group on corporate matters, with Slaughter and May also winning work from the company recently, including on its 2012 acquisition of fund manager Gartmore, which was represented by Freshfields (12 January 2011).