Turner Investment Partners, near Philadelphia in Berwyn, PA, is bringing on a general counsel-chief legal officer. John Grady, will start at the new position on February 1. The need for the new position hints at the firm's plans for future growth.

Grady hinted at Turner's future direction, stating, "I will give advice regarding both acquisitions and joint ventures as well as changes to the business structure as the industry is under pressure to meet additional challenges on the capital and personnel front."

Grady has been working with Turner during his tenure with Morgan, Lewis & Bockius, a Philadelphia law firm. After twenty years in investment law, this is first position within a fund complex. Grady's internal role expands on his current professional duties.

"I will be continuing to do some of the things I do as outside counsel, yes," said Grady. "Providing strategic direction is something an outside counsel doesn't do, so that's where I will be going outside my current role."

While Grady has been courted by a number of fund companies, he has resisted the call until now. He also added that some attorneys might view the switch as a defection to the other side, but he looks forward to the change.

"In some ways, lawyers would say you're non-diversified because you only have one client," he explained. "What I like about this job is that I only have one client, but they ask every question and even unknown questions. One client allows you to prioritize as well as you can. I don't think there's anybody who sees this as a loss of prestige." 

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