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Milton Cheng joins 70 Global CEOs in Catalyst For Change initiative

Baker McKenzie Global Chair, Milton Cheng has reinforced the commitment of the leading global law firm to join Catalyst’s mission to elevate women in leadership roles.

Milton is one of 70+ CEOs involved in the Catalyst For Change initiative to advance diversity, equity, and inclusion in the workforce. Catalyst’s 2020 report, Towards a More Equitable Future, found that Catalyst For Change companies are addressing challenges in the representation of marginalised groups by building a strong foundation at the manager level.

The Catalyst CEO Champions For Change are using their voices to advance women across the leadership pipeline. The 2020 report identifies ways global companies can collect data on ethnicity and race in their organisations, as well as highlighting the latest statistics for women’s representation in the global leadership pipeline. It also explores ways to measure the representation of women who identify with underrepresented ethnic and racial groups and provides a three-step plan to help organisations accelerate their journey toward equity:

  • Step 1: Get educated on intersectionality.
  • Step 2: Establish a system for collecting reliable data on race and ethnicity.
  • Step 3: Start the conversation about racism.

You can read the full report here.

Milton Cheng, Baker McKenzie Global Chair commented; “Twenty years after electing the first female Chair of any global law firm, we are proud to say that once again we are leading the way in the legal sector. To demonstrate our commitment to being inclusive, we have set global aspirational targets of 40% women, 40% men and 20% flexible (women, men or non-binary persons) by 2025. This target applies to Partners, senior business professionals, firm committee leadership and candidate pools for recruitment.”

“Women, and particularly women of colour, continue to face entrenched barriers to advancement in companies across the world, but it’s important that Catalyst CEO Champions For Change companies continue to demonstrate collective progress,” said Catalyst President & CEO Lorraine Hariton. “We know more work needs to be done, but the data show positive gains, and we’re proud to partner with these CEOs in this effort.”

This pledge follows Baker McKenzie’s earlier commitment with Catalyst in 2020. The Firm became one of 56 companies and organisations who have joined Catalyst’s Gender and Diversity KPI Alliance (GDKA) to support the adoption and use of a set of key performance indicators (KPIs) that will measure gender and diversity.

Norton Rose Fulbright publishes COVID-19 report

A new report by global law firm Norton Rose Fulbright – “Global operational resilience and COVID-19” – reveals how international financial institutions are managing operational resilience in the wake of the COVID-19 pandemic.

A cross-section of senior executives and risk and compliance professionals from more than 50 international financial institutions responded to the survey, which focuses on seven headline areas:

  • Governance and oversight
  • Annual budgeting
  • People and important business services
  • Outsourcing and systems
  • Regulatory change and guidance
  • Key challenges and concerns
  • Lessons learned

Whilst 38% of respondents felt their institution had moderately comprehensive operational resilience frameworks before the pandemic, the same proportion confirmed their framework was either “in development” or “in place but required improvement”. Consequentially, the pandemic has prompted a robust response from the financial services industry with 80% of respondents stating that their institutions now has enhanced governance and oversight due to the crisis.

Managing external stakeholders and third parties, IT connectivity, business travel disruptions, and supervision and oversight were four areas in which respondents had experienced challenges during the earlier phase of the pandemic.

In addition, respondents have identified conduct risk, cyber and data security, cash flow and profitability, and the impact of loan loss provisions as primary areas of systemic concern.

Correspondingly, respondents expect greater regulatory scrutiny and enforcement action to focus on controls and risk management frameworks, technology and management information, accountability regimes and financial crime risks.

Given the ongoing disruption caused by the pandemic, more than 70% of respondents expect that their organisations will increase their operational resilience budgets in 2021.

Lisa Lee Lewis, head of advisory for risk consulting at Norton Rose Fulbright, commented: “The pandemic has prompted an institutional rethink on operational resilience. The question financial institutions need to ask themselves is: can the institution absorb operational shock when they do occur while continuing to provide the same level of services to its customers and relevant markets? Financial institutions will continually need to test their ability to remain within their impact tolerances through a range of severe but plausible disruption scenarios. These areas will be even more pertinent as and when new or enhanced rules come into force over the course of the year in countries across the globe.”

Jonathan Herbst, global head of financial services, Norton Rose Fulbright commented: “The current pandemic has meant that firms’ contingency plans are being tested in real-time. It has incidentally prompted firms around the world to begin mapping, testing and strengthening their operational resilience frameworks, often in advance of the new or revised rules coming into force. Those firms who have generally responded well in this crisis will find that the initial groundwork for operational resilience has been laid.”

Gerry Pecht elected as Global Chief Executive

Global law firm Norton Rose Fulbright announced today the election of Gerry Pecht as Global Chief Executive of Norton Rose Fulbright, effective January 1, 2021. Gerry Pecht will succeed Peter Martyr, who has led Norton Rose and then Norton Rose Fulbright since 2002.

Currently Norton Rose Fulbright’s Global Head of Dispute Resolution and Litigation, Gerry Pecht commented “I am proud and honoured to be elected Norton Rose Fulbright’s Global Chief Executive. Over the past ten years, we have built a global platform with exceptional lawyers serving valued clients in virtually every major business centre. The quality of our people around the world enables us to collaborate on a truly global level. I look forward to building on our platform and taking our firm to the next phase of its evolution. As Global Chief Executive, I will promote our firm’s unity and strategic alignment, emphasise our client service focus, utilise our technological and innovative advantages and optimise our financial performance.”

“I will also place a priority on social engagement. Lawyers play a special role in society, and our firm must use its influence to fight racism, sexism and social injustice. Diversity and inclusion is a key focus for our firm and a cause I will continue to champion.”

“On behalf of the global business, I would like to thank Peter Martyr for the outstanding contribution he has made to the firm as its first Global Chief Executive, and I am committed to continuing to build on the foundations laid by Peter.”

Peter Martyr, Norton Rose Fulbright’s Global Chief Executive, added “Gerry is a highly experienced business leader, with whom I have worked closely over the past eight years. Gerry is a US lawyer with a global personal and professional background, making him well equipped to drive the firm’s global business transformation strategy. The firm is in good hands, and I am certain it will flourish under his leadership.”

Gerry has been a member of the firm’s Global Executive Committee since 2013 and has served as Global Head of Dispute Resolution and Litigation since 2014. He joined our Houston office in 1980 and was named a partner in 1987.

Regularly representing publicly traded companies located both within and outside the US and their officers and directors, Gerry built a commercial litigation practice focused on securities litigation and enforcement, energy litigation, internal corporate investigations, international litigation and arbitration. Both Chambers USA and The Legal 500 United States have recognised Gerry for his work in securities litigation.

Baker McKenzie announces 84 partnership promotions

Leading global law firm Baker McKenzie is pleased to announce that 84 of our colleagues have been promoted to partner. Promotions take effect from 1 July.

Across the law firm’s practice groups globally, Tax and Dispute Resolutions saw the largest intake of new partners, with M&A also significantly adding to their numbers.

During Financial Year 2020 Baker McKenzie also added 68 lateral partner hires, demonstrating the Firm’s continued commitment to investing in top talent across the globe. Combining this year’s promotions and new lateral talent, the law firm added 152 partners to its ranks.

Milton Cheng, Global Chair of Baker McKenzie, said: “Congratulations to all of our new partners. Welcoming 152 new partners, both home-grown and lateral, over the last 12 months is a clear sign of the importance we place in the long-term growth strategy of the law firm. I wish them all the best in their future career with Baker McKenzie.”

Konexo launches ‘hourly’ resourcing model

Konexo, a division of Eversheds Sutherland, has launched Resourcing+ an evolution of its existing resourcing service to be rolled out across its global network.

As the demand for different ways of working increase, Resourcing+ gives clients immediate and high quality legal talent on an hourly basis with the flexibility tailored to clients. Clients will be able to hire immediate, ad hoc support as an extension to their in-house team without having to commit to specific timeframes.

Clients currently using the service include Nestle UK, Pernod Ricard UK and Lion Group.

James Lewindon, Head of Konexo Legal Resourcing UK, said: “As clients face challenges around location, IT infrastructure and talent management, being able to access interim staff on an ad hoc and flexible basis is both appealing and necessary particularly in the current climate.

“Clients are looking for high quality and experienced legal professionals who can hit the ground running. Resourcing+ provides both reassurance to clients and a service to meet their varied and changing business needs.”

Konexo Legal Resourcing has provided interim placements to its clients for the last nine years and has an extensive talent pool of over 1,000 legal professionals including lawyers, paralegals and project managers across multiple legal disciplines.

CBRE recognised For sustained excellence

CBRE Group, Inc. today announced that the company has been recognised as an “All Star” firm in IAOP®’s annual assessment of global outsourcing companies across all industries. IAOP also recognised CBRE for “sustained excellence” for its continued high performance in the program over the last several years.

The 2020 Global Outsourcing 100 (GO100) recognises the world’s best outsourcing service providers and advisors. This list is based on applications received, and judging is based on a rigorous scoring methodology that includes an independent review by an independent panel of IAOP customer members with extensive experience in selecting outsourcing service providers and advisors for their organisations.

CBRE again achieved top honours in all the program’s judging categories this year, including customer references, awards and certifications, programs for innovation and programs for corporate social responsibility.

“Our continued recognition among IAOP’s top global outsourcers reflects the close bonds we have forged with our clients and the tireless efforts of our teams in delivering truly differentiated outcomes,” said Jack Durburg, CEO of Global Workplace Solutions for CBRE. “That is especially true in our current operating environment, which has required collaborative, transparent and innovative solutioning in dealing with unprecedented challenges caused by COVID-19.”

CBRE provides integrated services for occupiers of commercial real estate, including facilities management, transaction services, project management, and strategic consulting.

“Companies that outsource, not only in the traditional sense but also through the wide array of the ever-changing collaborative business models, are scrutinising their providers very closely, which is why choosing the right partners is more important than ever,” said Debi Hamill, IAOP CEO. “The GO100 is the definitive guide to help companies research and compare service providers with whom they are considering relationships.”

About CBRE

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.