Mathieu Colas and Hélène Chaplain join Monitor Deloitte France

Both new partners have been at Deloitte for between six months to one and a half years, and after demonstrating their track record externally and internally, they have been promoted to senior partner and admitted into Monitor Deloitte’s ranks. Monitor Deloitte is the strategy consulting brand of Deloitte Consulting, established in 2012 after Deloitte acquired Monitor Group, a boutique US-headquartered strategic consultancy that was founded by among others strategy guru Michael Porter.

Hélène Chaplain is a senior partner in the firm’s Digital Strategy & Innovation practice, and is the leader of Deloitte’s wider Consumer Business industry segment, which spans services to clients in the automotive, consumer goods, retail, transportation and hospitality industries. She previously spent 17 years at Accenture, since 2001 in the role of partner. In her most recent roles, Chaplain served as Accenture France’s industry lead for consumer goods and was head of the firm’s digital consulting arm for clients in the products landscape.

Mathieu Colas is a senior partner in charge of Monitor Deloitte’s automotive and new mobility offerings. He started his career with Deloitte at Deloitte Digital – the Big Four firm’s rapidly growing digital wing – and previously spent four years at Capgemini Invent and over a decade at Oliver Wyman. Colas focuses on topics including (digital) strategy, large-scale transformation, emerging technologies, advanced analytics and digital transformation.

As part of their new roles, both Colas and Chaplain joined Monitor Deloitte’s annual offsite in June. During the three day trip to Biarritz in the south of France, the firm’s leadership walked through the year’s top accomplishments and the ambitions for the current financial year. Meanwhile, consultants were provided the room to network, share experiences and best practices and enjoy the region’s sunny weather and culinary culture.

Last year, Monitor Deloitte France added Olivier Perrin, a former Accenture Strategy partner, to its leadership ranks in Paris.

No-deal vote boosts pound sterling

British Pound exchange rates remain under pressure with Brexit uncertainty continuing to loom large. However, against the US Dollar, Sterling found something of a reprieve yesterday after disappointing house building statistics were published across the Atlantic. With Theresa May now in her last week of office, concern over the potential for political chaos under her successor is likely to keep a lid on any upside for the Pound. The Australian Dollar also performed notably well overnight, gaining ground over Sterling (AUD/GBP) after Australian employment data suggested the Reserve Bank of Australia (RBA) may have done enough for now in terms of interest rate cuts.

The Pound has continued to climb against the Euro and US Dollar in Thursday’s trading session. MPs backed an amendment that could prevent Conservative Party frontrunner Boris Johnson from shutting down Parliament to pass a no-deal Brexit in October.

Moving into Friday morning’s trading, the Pound is in a relatively tight range, trending slightly lower against the US Dollar, Euro, and Australian Dollar. UK Public Finances data will be out later in the session, along with the University of Michigan US Consumer Sentiment stat.

Weak US Housing Data Offers Cable (GBP/USD) Some Temporary Respite

The Pound to US Dollar exchange rate (GBP/USD) found a little respite yesterday following the release of some significantly worse-than-expected US Building Permits data. Despite falling mortgage rates across the Atlantic, applications to build new houses fell for a second straight month to the lowest level in two years. Land and labour shortages are said to be behind the move, so this may prove sufficient deflect some concern away from the reading which has previously been seen as an indicator of recession. However, the news was sufficient to help drag Cable back from its test of two-year lows, at least for now.

UK Political Uncertainty Keeps Pound Exchange Rate in Check

Markets may have priced in Brexit uncertainty, but it seems as if the impending political chaos starting next week, once a new Conservative Party leader is announced and new Prime Minister appointed, may still need to be priced in. Parliament is, however, strengthening its resolve to ensure it cannot be suspended to allow a no-deal Brexit to be forced through. The House of Lords voted yesterday to provide further safeguards here and the bill will return to the House of Commons today for a second reading. The Pound to Euro exchange rate (GBP/EUR) remains close to six-week lows, but anything that points towards another general election being necessary in the Autumn has the scope to see further selling here.

Why Did it Move? Pound to Australian Dollar (GBP/AUD) Exchange Rate

The Pound to Australian Dollar exchange rate (GBP/AUD) fell last night despite a decidedly mixed employment report from Canberra. However, upward revisions to May’s data and solid growth in terms of full-time jobs appear to have been sufficient to convince markets that the Reserve Bank of Australia (RBA) doesn’t need to jump in with another rate cut just yet. Having traded as high as 1.7760 yesterday, the cross now sits almost a cent lower at 1.7670.

Women in Finance Charter continues to drive change at highest level

Over 350 financial services organisations have now signed up to the Women in Finance Charter, with today’s signatories bringing the total coverage of the Charter to over 800,000 people.

The Treasury’s Women in Finance Charter asks financial firms to commit to taking action to support the progression of women into senior roles, including setting their own gender targets.

The 21 newest signatories include investment firms Allianz Global Investors and Natixis, and business-banking tech company Tide.

Alongside this, new research from New Financial finds that the Women in Finance Charter is leading to greater engagement on gender diversity at the highest levels in those organisations which have signed up to it. Women in Finance Champion, Dame Jayne-Anne Gadhia, said:

I’m delighted to see the Charter continue to grow. It’s the businesses that address their culture and understand the power of diversity that really succeed. The top quarter of businesses on gender diversity are 21% more likely to have above-average profits than the bottom quarter. So this is not just the right thing to do socially, it’s the right thing to do for business.

The Economic Secretary to the Treasury, John Glen, said:

It’s great to see so many financial organisations signed up to the Charter, but we can’t be complacent.

We need to make sure this is translated into meaningful change across the sector. So it’s reassuring that people are already seeing the Charter as a driver for change in their companies, including on wider diversity issues too.

Signing the Charter is just the first step, and I encourage all signatories to continue this work so we can create a fairer, more equal industry.

Yasmine Chinwala, partner at New Financial and co-author of the report, said:

It is very encouraging that signatories believe the Charter is driving change both within their organisations and at industry level. The data shows the Charter has influenced signatories to take a new approach to improving diversity. It is vital that signatories continue to use the Charter to stimulate discussions at the highest levels, and maintain focus on increasing female representation.

Two-thirds of the signatories surveyed believe being a Charter signatory will drive permanent sustainable change in their company and across the financial services industry, with the majority of the rest expecting to see a shift in their own organisation over the next five years.

The research also found that this is not just a ‘women’s issue’ but a business issue, with nearly all respondents seeking ways to involve men in their Charter commitments. Four-fifths of respondents are also seeking to improve their wider diversity as well as their gender balance, most commonly focusing on ethnicity, LGBT+, disability and socio-economic background.

KPMG hires Zurich veteran

KPMG has announced the appointment of Graham Boffey as insurance partner in its financial services consultancy team, effective October 01.

In his new role, Boffey will work closely with Simon Ranger, head of insurance at KPMG, to support clients across the UK market. Boffey brings considerable insurance industry experience and most recently acted as head of UK distribution at Zurich Insurance. He began his career at IBM and Barclays, and spent more than a decade at Aviva, where he fulfilled many roles including chief executive officer of Aviva Healthcare, and, later, managing director of corporate benefits.

“It’s great to be heading back to KPMG – its UK leadership team is bold and braced for change and I want to take that mentality out to clients,” said Boffey. “Customers, and society at large, are putting ever greater pressure on big businesses to demonstrate their value and nowhere is that more prevalent than in insurance; a sector designed to help people protect what’s important to them. Simon and the team at KPMG understand that we have to change now to be relevant in the future. I’m looking forward to getting to know the team and their clients to help them make that change.”

“Graham brings with him a huge amount of experience and a practical understanding of how the industry needs to change,” said Ranger. “He’s helped some of the biggest insurers navigate some of the choppiest waters over the last few decades. I’m sure our clients will appreciate his knowledge, and, most importantly, our colleagues will benefit enormously from working with him.”

UAE Ministry of Economy update fees for Trademark Enforcement

To ensure efficiency and streamlining with international best practice, namely in trademark prosecution and the enforcement of registered rights, the UAE Ministry of Economy has issued an administrative order to decrease and waive some of the core official fees associated with their trademark registration and enforcement services.

Following an increase to such fees in 2015, the UAE Trademark Office was urged by trademark owners to consider a reform of this decision. Whilst the number of filed and examined marks has somewhat declined since 2015, this decrease can in part be attributed to the reduction of illegitimate marks filed in bad faith and those filed with intention to benefit from pre-existing rights.

The UAE Ministry of Economy has decreased and waived more than 100 nominal fees across different departments and sections, such as commercial agencies, the Trademark Office and Copyright Office. Notably, the Trademark Office has reduced its registration fees by 33%. This follows the introduction of steps to ensure the complete protection of trademark rights with the full integration of an online system for all trademark prosecution services and e-filings. This full electronic integration, operational since January 2019, has reduced the volume of administrative work for officials and has enhanced examination efficiency. On average, it now takes less than 6 months to complete the entire process of filing, examination, publication and registration of new trademarks. In the past, this time frame was considerably longer, taking approximately 12 months or more, to complete the process.

Prior to the reduction in fees for trademark registration, the applicable fees in the UAE were considered among the highest, if not the highest, in the world. As a result, officials received substantial requests to reconsider such rates and bring the cost in line with international standards. Eventually, in July 2019, decision makers at the UAE Ministry of Economy decided to adopt and publish a list of service fees to be reduced and waived relating to trademark registration, renewal inspection in enforcement of trademarks and parallel import complaints. The new nominal fee for trademark registration was reduced by 33%, decreasing the official fee for registration from AED 10,000 to AED 6,700. This move is expected to encourage brand owners to increase their protection in the UAE to cover various elements such as shapes, slogans, terms, colours and other core components of brand integrity.

Additionally, grievances or appeals before the Trademark Appeal Committee from provisional refusal or office action by examiner is now available free of charge. This used to be subject to a fee of AED 5,000.

In addition to the above, officials at UAE Ministry of Economy recognise the necessity to offer an accessible and proactive enforcement system. Therefore, a decision was made to waive the official fees associated with any request or application made by trademark owners to officials at the Trademark Office to investigate incidents of trademark infringement. Registered commercial agents in the UAE also benefited from the wavier of certain fees as they are no longer required to a pay fee to seek protection from parallel import by virtue of issuing administrative circulars to notify registered commercial agencies rights to border authorities, i.e. UAE Customs. These fees were previously mandatory following administrative enforcement action taken before the Ministry of Economy in anti counterfeiting and infringement cases and the enforcement of commercial agencies rights against grey market/parallel import shipments.

BSA is keen to see brand owners benefit from these new arrangements and urges all professionals in the IP field to partake in continuous dialogue with UAE Ministry of Economy to encourage enhanced protection which is both affordable and aligned with international standards.

For any enquiry or additional assistance in trademark prosecution, enforcement of IP rights, commercial agencies or general IP legal services in the UAE and the wider Middle East region, contact Head of Intellectual Property, Munir Suboh.

Compliance | Anti-corruption

In face of the current challenges of advocacy and the world scenario as a whole, and in line with our Values and Beliefs, we started implementing the Promare | Rabb Carvalho Advogados Compliance Program.

Our Compliance Program is focused on creating a set of internal integrity mechanisms and procedures in the fight against corruption, encouraging, through preventive and ostensive measures, the adoption of conduct in accordance with the ethical laws applicable to advocacy as well as to the field of performance of our customers.

Thus, our Program is one of the six main pillars:

  • Identifying and encouraging compliance with laws and regulations, including anti-corruption legislation and policies;
  • The creation of an internal control mechanism for the implementation, execution and monitoring of the program;
  • Encouraging its direct and third-party employees to comply with the Promare Code of Ethics and Conduct and anti-corruption laws and regulations;
  • Preventive action to prevent fraud and illicit;
  • The establishment of disciplinary measures and remediation of possible damages in case of violation to the standards related to Compliance Promare | Rabb Carvalho Advogados
  • The adoption of transparency regarding donation to candidates and political parties.

Our team, aware that the corporate conduct is materialized through the actions of each of its employees, identified three main norms that regulate its activity: the Law Statute, the Penal Code and the Anti-Corruption Law.

Compliance with the rules, besides avoiding the application of penalties, brings other fundamental benefits. The main thing is maintaining a working working environment. Another benefit is the good reputation in the market and the good acceptance of the public opinion, since the Brazilian society does not tolerate more companies with the name related to corruptive practices, valuing even more those that maintains its reputation unblemished.

The RC | LAW Compliance Department is an independent communication channel for members of the office as well as anyone who is aware of the practice of unethical acts by any member of staff. The compliance department´s governed by an anti-recrimination policy, according to which no one will be harmed by making a complaint in good faith.

The communication channel receives reports with the indicated authorship or even anonymous ones, always guaranteeing the confidentiality with respect to the data of the one that uses the Compliance department. The channel is available to all, and can be accessed through the email: [email protected].