About

Team size: 150
Major law firms used: Freshfields Bruckhaus Deringer, White & Case

Patrick Sarch, corporate partner at White & Case, describes Bank of England GC Sonya Branch as his ‘number one’ selection for the GC Powerlist.

‘She keeps the world spinning on the right axis. She has an office a couple of doors down from Mark Carney, and is the kind of person who wakes up in the morning and thinks: “What I do matters.” She is working in the country’s best interests and of all people deserves some bigging up.’

Branch joined BoE as GC in 2015, a month after chief legal adviser Graham Nicholson retired. Since then, she has seen her in-house legal function inflate at the same rate as the wider business has expanded its remit. Upon arrival, BoE had about 90 staff. It now has around 150 lawyers, paralegals and support staff in the legal function alone.

Another major factor in this increase in headcount was oddly due to the 2012 Financial Services Act, which saw the dissolution of the Financial Services Authority. As a result, Branch estimates around 40 former FSA lawyers joined BoE in 2013. She comments: ‘Every institution has its own defining cultures. The thing that uniquely defines BoE is: “Never underestimate the power of the public mission that drives us all.”’

The first few years of her tenure were spent bedding in this rapidly expanding team, as well as giving the function a general shake-up. A flabby structure of nine legal units was streamlined to four and a separate ‘EU withdrawal’ division was set up. She also appointed two new deputy GCs in order to provide greater career progression opportunities. ‘There was no clear, structured career progression to the GC role for legal colleagues when I first joined, but I have since provided that path.’

High up the 2018 agenda was the looming prospect of Brexit, in whatever guise it may ultimately take this month. The in-house legal team was obliged to sift through around 10,000 pages of EU legislation last year to make sure preparations were up to scratch.

Needless to say, Branch has a demanding role, particularly when childcare responsibilities are added in. She concludes: ‘As a working mother, it is important for me to have a flexible working environment. The sense of public mission motivates me, as does working in a collegiate team which shares a value system I recognise.’