1. Hi Jim, can you tell us a little about your role and journey into law? What excites you outside of work?
I am the General Counsel for the Wirex group. Wirex is a payment service that seamlessly integrates crypto assets with the traditional payment and banking infrastructure. Anything that makes me think in a new way, or challenges your current mindset, such as art or new experiences excites me outside of work.
2. As a GC, what are some of the challenges that keep you up at night? How are you addressing them?
The regulatory changes in the crypto space as the range of products and services grows. Wirex has a very multinational footprint and constantly pushes the boundaries of what has been done. As local regulations change and gain clarity, keeping the Wirex group positioned correctly is one of the biggest challenges. We have a small but efficient legal team in house and work with great external advisors to supplement any gaps. Working closely with the business development team we are able to stay on top of changes as they get rolled out.
3. What do you think about the use of LegalTech, data analytics and process optimisation to improve your legal department’s value?
With a small legal team, I would like to use more of it to assist in tasks in a low risk way. Having said that, I have yet to find one that is really a can’t do without piece of assistance for us.
4. What trends do you expect to see in the legal services industry in the next 5 years.
I expect to see an increase in boutigue legal advice providers as the crypto areas get even more specialised. This makes it more important for the inhouse advisor to be aware of how to get the best advice in various niche areas, as the big law firms are no longer the one-stop shops.
5. Your favourite tune? And why?
Bill Withers – Lovely Day, it is a song that always makes you a bit more positive after hearing it.
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