Le Marchant, one of the UK`s foremost financial advisors, served as General Counsel and Head of Legal and Compliance EMEA at Nomura. He joined the institution in November 2008 after spending 18 years at Lehman Brothers, when the Japan-based investment firm acquired much of Lehman`s European investment banking division. Before leaving the now-defunct bank, he held the position of European General Counsel. As a member of our legal team, you will provide legal advice and support for the firm`s operations, advise clients and help the firm comply with laws, regulations and our own business standards. They help us stay loyal to our customers, shareholders, employees and reputation. While they didn`t make the bottom 100 of U.S. General Counsel (GC) payroll-based compensation rankings, the profitability of stock-based GCs returned to the forefront after JPMorgan Chase & Co`s Stephen Cutler sold 43,997 shares at a price of $58.74, the equivalent of $2.58 million for Cutler. As if to recall the impact of increased regulation and the ongoing impact of the financial crisis on the banking community, JP Morgan reported a loss of $380 million in the third quarter on Friday (October 11) after setting aside $9.2 billion to cover its legal fees. Dimon added: “We continually assess our legal reserves, but in this highly stressed and unpredictable environment with increasing demands and sanctions from multiple government agencies, we thought it wise to strengthen them significantly.” JP Morgan Chase will appoint its current corporate and investment general counsel, Stacey Friedman, as GC early next year, with Stephen Cutler assuming the role of vice chairman. Mr.
Cutler, who had served as GC and Executive Vice President at JP Morgan since 2007, was with the Washington office of Wilmer Cutler Pickering Hale and Dorr, where he had been a partner and co-chair of the securities division since 2005. As Vice-Chairman of the Board, Mr. Cutler will serve as senior advisor to James Dimon, Chairman and CEO of JP Morgan, other executives and the Board of Directors, and will continue to advise on more complex legal matters. Le Marchant assumed the role of global head of compliance for corporate and investment banking, with JP Morgan hiring John Tribolati, a senior Goldman Sachs adviser, as its new regional general counsel last month. Linney himself was one of the bank`s most prominent attorneys general in Europe. Linney, who was on GC Legal Business` power list in 2013, made the internal transition early in his career from Clifford Chance. In 2001, she became Managing Director and Managing Partner at JPMorgan Chase before being appointed EMEA Investment Bank GC in 2008. In 2012, she took over the management of GC EMEA.
It is often said that the financial sector has been in decline since the 2008 banking crisis, but there is no doubt that US giant JP Morgan Chase remains one of the most lucrative and sought-after legal clients in the world. Friedman holds a J.D. from Duke University and a B.A. from the University of California, Los Angeles. Friedman began his legal career as an employee of the Honorable Gary L. Taylor, United States District Court, Central District of California. She currently lives in Brooklyn, NY with her wife and two children. Nonetheless, banks like JP Morgan have expanded their in-house litigation and compliance capabilities — last year, former Sullivan & Cromwell litigator Stacey Friedman joined the legal team as general counsel for the corporate and investment banking division, and the bank is expected to quickly expand its compliance function. However, once surveys develop, they are often labor-intensive, and their “bank-breaking” character often means that only the best and most expensive companies are used. The results were the bank`s first quarterly loss in eight years, with President and CEO Jamie Dimon saying its “strong underlying performance” this quarter was “marred by high legal fees.” His move to JP Morgan Chase follows the bank`s recruitment in April of Piers Le Marchant from Japanese investment bank Nomura. Le Marchant, one of the UK`s most prominent financial advisers, has been hired as Managing Director EMEA by JP Morgan Chase to replace long-time boss Karen Linney, who retired last year. As one of the world`s most lucrative legal clients, the investment banking giant has awarded seats to Slaughter and May, Allen & Overy (A&O), Clifford Chance (CC), Linklaters, Freshfields Bruckhaus Deringer, CMS Cameron McKenna, Eversheds and Norton Rose Fulbright (NRF).
A former attorney at Cleary Gottlieb Steen & Hamilton, Tribolati joined Goldman Sachs in Tokyo in 2001 as Executive Director of JP Morgan Asia Pacific, where he was Managing Director and Head of Legal and Compliance.