Archive
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T-Mobile US names next general counsel
Dave Miller retiring after 26 years with the company T-Mobile US has hired Mark Nelson as executive vice president and general counsel, effective October 11. Nelson will succeed Dave Miller, who has announced his retirement from T-Mobile after 26 years with the company. Miller will stay on as executive vice president and strategic adviser to help support the transition until April 1, 2022. Nelson will join T-Mobile from law firm Clearly Gottlieb, where he has been a partner since 2002. He will report to CEO Mike Sievert and have offices in Bellevue, Washington, and Washington, DC. He has advised T-Mobile…
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Bank of America reveals general counsel succession plan
David Leitch retiring next year – CNN reported that Senator Elizabeth Warren, D-Massachusetts, called for the Federal Reserve to break up Wells Fargo following years of scandal at the bank. ‘Every single day that Wells Fargo continues to maintain these depository accounts is a day that millions of customers remain at risk of additional negligence and willful fraud,’ Warren wrote in a letter sent to Federal Reserve chair Jerome Powell. She urged the Fed to revoke Wells Fargo’s status as a financial holding company and require the company to separate its traditional banking activities from non-banking activities. A Fed spokesperson…
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The week in GRC: Companies face vaccine mandate questions and SEC’s Gensler outlines agenda
This week’s governance, compliance and risk-management stories from around the web Lauren Mogensen will become global general counsel for Bank of America at the end of the year, succeeding David Leitch, who is retiring in 2022. Mogensen will take up the global general counsel role after being global compliance and operational risk executive for the bank. In that role she is responsible for overseeing the strategy and governance of Bank of America’s compliance and operational risk programs, and also enterprise-wide compliance and operational risk policies, standards and program execution. She is further charged with maintaining relationships with key regulators and…
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Analog Devices hires CLO
Janene Asgeirsson most recently worked at Acacia Communications Wilmington, Massachusetts-based Analog Devices (ADI) has hired Janene Asgeirsson as the company’s new senior vice president, chief legal officer (CLO) and corporate secretary. In her new role, Asgeirsson oversees ADI’s legal matters, including corporate governance, M&A, litigation, intellectual property and compliance. As chief risk officer, she is also responsible for the company’s internal audit and risk functions. Asgeirsson most recently worked at Acacia Communications, where was CLO, chief compliance officer and corporate secretary. During her six years with Acacia, she worked on transactions including the company’s 2016 IPO and its $4.5 bn…
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Huge investor coalition urges governments to accelerate climate action
Nearly 600 investment firms sign statement calling for range of policy changes A huge investor coalition has called on national governments to accelerate policy changes that will support investment in climate change solutions. A group of 587 investment firms with a collective $46 tn in assets under management yesterday issued a statement urging governments to take a range of actions, from strengthening emissions targets to mandating climate reporting and ending fossil fuel subsidies. Signatories to the 2021 Global Investor Statement to Governments on the Climate Crisis include major institutions such as Allianz Global Investors, State Street Global Advisors, Legal &…
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S&P Global raises concerns over greenwashing
Lack of consistency with ESG terminology causes investor confusion Global reporting standardization could help mitigate investor concerns about ESG greenwashing in relation to green bonds, according to S&P Global. The financial information provider believes sustainable bond issuance, including green, social, sustainability and sustainability-linked bonds, could collectively exceed $1 tn in 2021, a near 500 percent increase on 2018 figures. Despite this growth, a lack of transparency around instrument labeling, reporting and data disclosure leaves many stakeholders wondering whether greenwashing – where an organization presents itself as more environmentally friendly than it is – has tainted those numbers. ESG terminology lacks…
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Clothing company Express hires legal chief
Laurel Krueger was previously general counsel and corporate secretary at clothing company Kontoor Brands Columbus, Ohio-based fashion retailer Express has hired Laurel Krueger as senior vice president, chief legal officer and corporate secretary. According to her LinkedIn profile, Krueger was most recently executive vice president, general counsel and corporate secretary at clothing company Kontoor Brands, a role she took up in January 2019. Kontoor was spun off from VF Corporation in May 2019. Before her time with Kontoor, Krueger spent almost seven years at Signet Jewelers in a variety of roles including vice president and general counsel, senior vice president…
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The week in GRC: ‘Mission-driven’ companies plan for IPOs and Amazon to pay workers’ college fees
This week’s governance, compliance and risk-management stories from around the web – Reuters reported that ExxonMobil said it will begin measuring methane emissions from production of natural gas at a New Mexico facility. The company, facing pressure from investors and environmentalists to address climate change, follows other shale producers in offering independently verified emissions data to buyers seeking to reduce their own carbon footprints. Exxon said it had signed an agreement with independent measuring firm MiQ to certify 200 mn cubic feet of natural gas per day produced at its Poker Lake facilities in New Mexico. ‘Certifying our natural gas…
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CEOs say cyber-attacks are biggest threat to company growth prospects
PwC survey reveals CEO concerns on cyber-security and digital transformation Cyber-threats have fast become a major source of anxiety for nearly half (47 percent) of global CEOs, according to a new survey from PwC. This figure is a jump from last year’s survey where one third (33 percent) of global CEOs cited cyber-threats as a concern. The fear is greatest among CEOs of companies in North America, where more than two thirds (69 percent) cite cyber as the largest threat to their organization’s growth – a 19 percentage-point increase on last year. Cyber-threats are also of concern for 54 percent…
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Marsh McLennan names new CCO
Denise Sanchez succeeds Katherine Brennan Marsh McLennan has promoted Denise Sanchez to become the company’s new chief compliance officer (CCO), effective September 7. Sanchez succeeds Katherine Brennan, who was CCO and also deputy general counsel and corporate secretary for Marsh McLennan for four years before being appointed general counsel of Marsh in June. In her new role, Sanchez heads up compliance strategy for Marsh McLennan globally and works with compliance officers in the company’s four businesses – Marsh, Guy Carpenter, Mercer and Oliver Wyman – to manage compliance risk across the organization. She reports to Bruce Nolop, chair of the…