Editor's Comment: A small step forward
Will the credit crunch prove to be a great stride forward for those lobbying for lawyers to take a more central role in commercial life? You might think so given this week's nomination of UBS general counsel Peter Kurer to replace Marcel Ospel as the bank's chairman as the sub-prime-hit institution fights to placate investors. It's a highly unusual appointment as general counsel virtually never rise to the level of chairman, no matter how embattled their employer. After all, many believe that general counsel shouldn't even sit on boards. And it also appears that the recent drive to improve governance in law firms has contributed to this state of affairs since firms increasingly frown on partners taking non-executive roles for fear of triggering conflicts.
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