Pearson rationalises external advisers
Legal Week Reports
The new head of legal at the Pearson Group is gearing up for a group-wide review of its external advisers.Gary Rinck, who joined Pearson as general counsel in July, aims to rationalise the firms instructed by the media giant.Under the stewardship of chief executive Marjorie Scardino the group has made a number of acquisitions and disposals during the last two years as Pearson moves to concentrate its business on publishing, media and IT.The Financial Times, FT.com, Penguin and Pearson Education are among the 13 divisions within the Pearson fold.Rinck told Legal Week he was on a fact-finding mission to select the group’s external advisers globally.“As we have acquired businesses the relationship between external firms has come under consideration,” he said. “I want to make sure the best possible people are used in the most efficient way.”Rinck said the group was likely to reduce the number of firms used and he added that the group might consider new firms.The London office of Morrison & Foerster, where Rinck was managing partner, may be one of the firms to benefit.Long-term corporate advisers are Freshfields, Herbert Smith and Denton Wilde Sapte in the UK, and Morgan Lewis & Bockius and Morrison & Foerster in the US.Paisner, one of the advisers to the Financial Times, could also be affected by the rationalisation.
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