Dominic Bacon
Gulf International Bank UK’s (GIB UK) head of legal and compliance Dominic Bacon has faced a number of challenges since assuming his role at the Bahrain-based bank in 2002.
Since the 11 September attacks, Bacon has been reviewing the bank’s anti-money laundering policies. He has also undertaken a shake-up of GIB UK’s roster of advisers and was not afraid to drop a major City firm – in this case – Dechert – from the bank’s panel.
Bacon has been extremely successful in raising the profile of the bank and, despite its limited annual legal spend of £750,000, attracted a high-class field to the pitching process.
Around 16 firms, including Akin Gump Strauss Hauer & Feld, Allen & Overy (an existing panel member), Berwin Leighton Paisner (BLP), Linklaters and Simmons & Simmons put themselves forward, with BLP eventually emerging as the winning candidate.
The astute Bacon exemplifies the efficient and effective manner needed to run a small legal team in a highly competitive market sector.