Bloomberg Law
May 25, 2017, 1:28 PM UTC

Top Morgan Stanley Lawyer: Legal and Compliance Belong Together

Stephanie Russell-Kraft

In the wake of the financial crisis, many of the country’s top banks separated their legal and compliance department. Morgan Stanley’s chief legal officer Eric Grossman believes that was the wrong way to go.

During a keynote address at Bloomberg Law’s Big Law Business Summit in Midtown Manhattan Wednesday, Grossman told an audience of law firm partners and corporate legal officers that it’s “counterproductive” to separate a company’s legal and compliance functions, and that doing so does a disservice to clients, shareholders, employees, and regulators. “If you’ve built the right culture, the lawyers and the compliance professionals all share the ...

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