In-house legal jobs increasingly valuable
28th July 2014
US consultancy company Consero has released the findings of their Financial Services & Insurance Litigation Data Survey, which found that more legal work is being kept in-house. According to the survey, most chief litigation officers in the financial services and insurance industries now have sufficient resources to manage their company’s legal work in-house.
The survey found that 80 per cent of those asked no longer need to outsource legal work, with financial in-house legal jobs proving more valuable to companies, who are now using in-house staff to wholly manage their legal function. The survey was carried out in May of 2014 and found that cost-saving measures were at the source of the findings, where chief litigation officers are now more likely to keep work in-house to save money.
44 leaders of Fortune 1000 company litigation departments were questioned as a part of the survey, which found more than a third to have increased their use of alternative fee arrangements. More can be read of the survey in this article on the Consero Group website.
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