Selecting outside counsel panels for a major financial institution like Laurentian Bank can be a complex task. Doing so requires a careful balance of a variety of criteria and the right selection of technology. It’s a challenging role, but one that Bindu Cudjoe, who is a scheduled speaker at Legalweek, is well-equipped to navigate.
Cost is a significant factor in the selection process. However, it’s not the only one. Among the other considerations that need to be taken into account are the benefits of Diversity, Equity, and Inclusion (DEI). Ensuring a diverse legal team is becoming increasingly recognized as not only a positive ethical decision, but as a sound business strategy as well.
Institutional commitment to DEI is a criterion that can’t be overlooked. But the candidate firm’s use of technology also plays an important part in the selection process. The efficiency, security, and flexibility offered by firms with strong tech capabilities can be a deciding factor.
It’s a demanding job, but one that is vitally important. The financial health and reputation of Laurentian Bank depend, in part, on making the right choices in the selection of outside counsel. The upcoming Legalweek event should offer valuable insights into Cudjoe’s selection process. Those interested can read more about the intricate process to gain a clearer understanding of the challenges it involves.