Inside the Secret Society of Wall Street’s Top In-House Lawyers
Bloomberg News reports on a Wall Street club that’s virtually unknown on Wall Street.
“The attendees are top in-house lawyers for some of the world’s most powerful banks — people who sit at the table for decisions that can shape multibillion-dollar litigation tabs for the likes of Barclays Plc, Citigroup Inc., Goldman Sachs Group Inc., Deutsche Bank AG and JPMorgan Chase & Co.,” write Greg Farrell and Keri Geiger.
They report that attendees at the recent gathering wanted to discuss a common foe: “class-action lawyers who seek billions of dollars from top banks for alleged market manipulations and related bad behavior. Eric Grossman, chief legal officer at Morgan Stanley, implored his confederates to hang together and resist the temptation to settle quickly.”
