Insurance giant RSA has put its global panel review on hold for the third time in over a year following the news that group general counsel Derek Walsh will step down in February.
The panel review was originally due to take place in September 2014 but the roster was extended for an additional year. A spokesperson for RSA admitted the review had not yet launched and would begin in the first quarter of this year.
A major shake-up across RSA’s management team, which led to several dismissals across senior management and the appointment of Stephen Hester as chief executive, was blamed for the initial delay. It was expected that the final panel would be announced at the end of 2015.
Yesterday RSA announced it was restructuring its management team again after general counsel and company secretary Walsh was stepping down from his role.
Former Linklaters lawyer Charlotte Heiss will succeed Walsh as chief legal officer. It is expected that Heiss will take the lead role in the global panel review after previously selecting the five firms that make up the current roster.
Allen & Overy, Ashurst, Linklaters, Norton Rose Fulbright and Slaughter and May currently sit on RSA’s formal panel.