Norman Veasey and Christine Di Guglielmo, a former judge and his former clerk, argue in a new book, “Indispensable Counsel”, that a CLO must be a “courageous Renaissance person”. By this they do not mean that he must fight the trial bar with one hand while painting frescoes with the other, but that he must perform more than one role. He must be a business partner and a guardian of corporate integrity. He (or she—20% of America’s big-company CLOs are women) represents the entire corporate entity, not just its managers. He answers directly to the board as well as to the boss. Professional ethics often require the CLO to say no to the other suits in the C-suite. One CLO complained to Mr Veasey and Ms Di Guglielmo that: “They sometimes view you as the ‘Business Frustration Department’…” [Read the whole article.]
