Undisputed – the next generation of partners setting the disputes agenda

As contentious work increasingly drives revenues at major City firms, Legal Business canvasses the leading teams to find the new partners setting the disputes agenda.

Over the last decade, an undeniable emphasis on contentious skills has occurred among the elite City firms. While seasoned litigators and arbitration specialists still dominate the landscape, firms are working harder than ever to develop their younger generation of partners.

The increase in global trade and transactions leading to cross-border disputes, and the emergence of more forceful and determined regulators such as the Financial Conduct Authority (FCA) and the Serious Fraud Office (SFO), has meant that contentious skills are significantly more prized. David Scott, head of Freshfields Bruckhaus Deringer’s global dispute resolution practice, sums up the change in environment: ‘There has been a paradigm shift in the way corporates view legal risk.’

‘The world is an unsettled place and I don’t see that changing any time soon,’ says Deirdre Walker, head of litigation and dispute resolution for Europe, the Middle East and Asia at Norton Rose Fulbright. ‘Because of financial debt issues combined with the fall in commodity prices and currency fluctuations, the margins aren’t there to enable parties to come up with a commercial solution. People are therefore more likely to fight.’

This change of gear has influenced major law firms’ strategies. Only this year, for example, Ashurst elevated three London disputes specialists to partnership in a global promotion round of 20. No other London department received more than two partner promotions. The drive to develop younger dispute resolution talent has never been as strong.

White & Case partner John Reynolds says that the demand for disputes professionals has certainly intensified: ‘Fifteen years ago, people spoke in hushed tones about globalisation. Clients now operate all over the world, dealing with parties from multiple jurisdictions and with much less emphasis on national boundaries; there will always be disputes arising from this.’

Recent world events back up Reynolds’ theory. The fall in commodity prices, including the slump in oil values, has led to commercial and financial tensions that inevitably result in disputes.

While the financial crisis was supposed to lead to a rise in litigation, the impact was not as acutely felt as first imagined, though investigations and prosecutions by regulators have of course risen dramatically.

Ben Knowles, co-chair of Clyde & Co’s global arbitration group, says the commodity price slump has created unprecedented levels of tension: ‘The financial crisis has been so brutal for so many people, so the prospect of huge amounts of litigation didn’t particularly appeal. However, the collapse of commodity prices and the oil price has had an enormous impact. I could list eight or nine big disputes that are being handled by myself and my colleagues in this office that have come out of the collapse of the oil price.’

The recent economic downturn in China and its stock market crash has jolted global markets. The FTSE 100 index has dived from just over 7,000 points this year to a little over 6,000 in early September. It demonstrates that China’s ills create worldwide reverberations. While global economic health and cross-border transactions have been aroused by China’s consistently impressive economic performance, the world cannot dissociate itself from China’s setbacks.

Roger Best, one of Clifford Chance’s most senior dispute resolution partners in London, expects to see an increasing number of cases involving China and he suggests that the firm may well transfer additional talent into Asia, and into Hong Kong especially; it has a number of Hong Kong-qualified practitioners in London. ‘We will see more disputes coming out of investments in China. There could be disputes about financial statements and disputes about fraud. I could see us increasing the number of partners in Asia and those who fly in and fly out.’

But in London, the lateral hires and a proliferation of partner promotions demonstrate the demand for a new generation of high-performing contentious partners. It is no surprise then that firms are putting considerable emphasis into promoting and developing their partnership ranks.

Here we highlight some of the emerging names that are poised to become the stars of the disputes firmament. Legal Business polled a wide range of senior City disputes specialists, including members of the Bar, to identify this emerging talent base. The emphasis is on partners that were promoted between 2011 and 2015.

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Freshfields Bruckhaus Deringer

Widely viewed as having one of the strongest disputes benches in the City, the firm may have lost senior international arbitration partners Jan Paulsson, Constantine Partasides QC and Georgios Petrochilos, who launched arbitration boutique Three Crowns last year, but it doesn’t seem to have harmed its global standing.

In London, it leads the pack in contentious regulatory and investigations. And Matthew Bruce, promoted to partner in 2012, ascended in the same year to co-head of the global investigations group in London. He is also no stranger to the odd Russian oligarch dust-up, having represented a co-defendant in Berezovsky v Abramovich, which then span-off into Gudavadze & ors v Anisimov. ‘He is an outstanding person in two fields; he is a fabulous litigator and is fabulously experienced in the investigations area as well,’ remarks David Scott, Freshfields’ global head of dispute resolution.

Christopher Robinson made partner in 2013 aged 35. He has significant case experience, acting for the senior creditor group in the headline Lehman Waterfall litigation, which involved a hat-trick of victories in the High Court and Court of Appeal. He also represented Deutsche Bank in Deutsche Bank v Sebastian Holdings, the largest claim to be heard in the Commercial Court following the financial crisis. ‘He has a very wise head on young shoulders. He is super-energetic and is a natural client lawyer,’ Scott says.

Of the 2011 vintage, Andrew Austin has earned respect from rivals in general commercial litigation and public law cases. An acknowledged retail specialist, Austin is part of the team that has advised key client Tesco on a broad range of disputes and regulatory matters. A committed partner, he heads the firm’s LGBT network and its graduate recruitment programme. ‘He is very smart, grasps things very quickly and is very efficient and client-focused,’ comments Scott.

Reza Mohtashami is among the younger generation of the firm’s well-established international arbitration practice. Having completed a five-year stint in Dubai, he is becoming a prominent figure in London, especially in emerging markets cases, investment treaty arbitrations and in the energy, infrastructure and telecoms industries.

Linklaters

Historically viewed as one of the less disputes-focused City leaders, Linklaters has moved to strengthen its contentious practice in recent years. Aligned with its proactive hiring strategy over the last few years that has culminated in the recent recruitment of international arbitration frontrunner Matthew Weiniger QC from Herbert Smith Freehills, the firm has also nurtured and promoted its homegrown talent into the partnership. International arbitration specialist Ben Carroll was made partner in 2013 and was identified by a number of sources as a strong performer. Working alongside Weiniger and others, Carroll is billed as playing a pivotal role in demonstrating Linklaters’ commitment to international arbitration.

‘It’s a real focus for us. We want to debunk the perception that we don’t do arbitration,’ London head of dispute resolution Satindar Dogra comments. Carroll has advised BP in several cases, including disputes stemming from its TNK-BP joint venture in Russia. ‘The TNK-BP shareholder dispute from 2011 to 2012 was a rollercoaster that started with an urgent injunction hearing and finished with one of the largest private M&A deals in the world. Much of the dispute was played out on the front pages of the press and it was exciting to be in the eye of the storm,’ Carroll recalls.

Banking litigation and regulatory specialist Alison Wilson made partner in 2014 and has taken a leading role in a range of FCA regulatory investigations, such as advising a leading bank on an investigation into its handling of PPI complaints. She also acted for Standard Chartered in an oil derivatives dispute against Ceylon Petroleum Corporation. ‘She is an incredibly astute business developer, confident and adept at understanding her clients’ needs,’ Dogra comments.

Slaughter and May

Slaughter and May’s disputes department has long stood in the shadow of its renowned corporate team, but efforts have gone into rebalancing the business. ‘We have a strong mandate to build the practice, reflecting the fact that our reputation has grown substantially over the past decade,’ argues Deborah Finkler, the firm’s head of dispute resolution and its global investigations group.

Fee-earner numbers have grown from 40 in 2011 to 53 in 2015. ‘We have always been a go-to firm for M&A and we now feel that we are also at that level on the contentious side. I would say that our reputation for litigation and investigations is first rate, and the ambition is that our growing arbitration practice follows suit.’

Slaughters has promoted three disputes partners in the last three years, including two in London and one in Hong Kong. The most senior of the three is James Stacey, who was promoted in 2013. In the typical Slaughters mould, Stacey has a broad skillset, but he has become a driving force behind the firm’s emergence in international arbitration. He also co-led the team that represented JPMorgan in the FCA’s investigation into foreign exchange trading at a number of banks.

Finkler says: ‘James is versatile, calm and considered, all great qualities to have when guiding clients through disputes. He is also driving our arbitration practice forward, which is very important for us as arbitration is becoming a real area of focus for the firm.’

Jonathan Clark, promoted in 2014, is a litigator with a sizeable diet of contentious insolvency and investigations work. He was closely involved with the Icelandic banking crisis, including advising the winding-up board of Glitnir on major derivative transaction disputes.

Herbert Smith Freehills

‘Ignore at your peril,’ remarks a senior litigator at a rival firm. Few firms could have endured the plundering that Herbert Smith Freehills (HSF) has been subject to in recent years. Senior dispute resolution partners have been tempted away to all quarters. Only a firm with a bench as deep as HSF’s could have maintained its prominence in the market.

Head of commercial litigation Tim Parkes admits that he did have big concerns about the exodus, but comments: ‘The extraordinary thing is that it hasn’t really had an impact. If you look at the clients we are working for and the revenue numbers, we have seen no impact from these departures. Although each of these people is a terrific operator, what seems to bring clients to us is our overall reputation and brand. The relationships go wider than the individuals.’

Certainly the younger generation have greater space to emerge in their own right in what remains probably the City’s strongest disputes brand. In that regard, three names from the 2014 partner promotion round have done just that; Chris Bushell, Natasha Johnson and Gregg Rowan. ‘They will go on and become real stars in the marketplace,’ asserts Parkes.

Rowan is a qualified barrister and established figure in energy and infrastructure arbitrations. He is thought of in the same mould as former partner Ted Greeno, who left for Quinn Emanuel Urquhart & Sullivan in 2013, and is already a well-known figure to energy majors such as BP. ‘He is undoubtedly a star in the making,’ Parkes comments.

Bushell rose to prominence after the financial crisis, representing a range of asset managers, hedge funds, banks and sovereign wealth funds in post-Lehman collapse cases. Great with clients, according to Parkes, he acted for Lehman Brothers Finance (In Liquidation) on a series of proprietary and unsecured claims linked to the demise of Lehman.

Johnson is a general commercial litigator with a background in professional negligence and contentious insolvency. She was part of the team that represented EY as administrators of Nortel EMEA. Parkes says she is rapidly becoming one of the go-to partners in contentious insolvency cases.

Clifford Chance

Clifford Chance (CC) certainly has heft and experience with a large number of well-established partners. But despite the large cohort of senior figures, it is always making room for more, including white-collar crime specialist Judith Seddon. Seddon was a partner at Russell Jones & Walker before joining the associate ranks at CC in 2008. She made partner at CC in 2014 and is now at the forefront of the firm’s activities in SFO investigations, including prosecutions relating to Libor. She also recently represented Barclays in investigations by the SFO and FCA into the 2008 capital raisings involving Qatar.

Roger Best, a senior CC litigator, says of the importance of Seddon’s skills: ‘Firms handling criminal investigations into City markets need to understand the market and practice and corporate clients only get the full benefit of that understanding when the criminal law specialist is embedded within the firm.’

In arbitration, Marie Berard is a French native who made partner in 2012. CC’s first female arbitration partner, Berard has appeared in a series of major ICC International Court of Arbitration and London Court of International Arbitration (LCIA) arbitrations, including a number of construction and engineering disputes, and cases involving Russia and Russian oligarchs. Best says that her unique background and experience has become pivotal to the practice: ‘In the arbitration world, there is big competition between civil law and common law style proceedings and she is ideally qualified to exploit that crossover and interact in cases where the arbitrators may be from civil law or common law backgrounds.’

Litigator Matthew Scully made partner in 2014 and has achieved prominence in a range of cases, including fraud and Russian disputes. Alongside the Moscow office, he acted for Sberbank Leasing on its application to challenge the English bankruptcy of Vladimir Kekhman. ‘He has got particularly good client-handling skills and he is especially good at gaining the client’s confidence,’ Best remarks.

Norton Rose Fulbright

Since 2012, the Norton Rose Fulbright (NRF) London dispute resolution team has grown from 20 to 33 partners. Deirdre Walker, head of dispute resolution and litigation for Europe, the Middle East and Asia, says that global commitment has mirrored London growth: ‘In EMEA, we had way too many one-partner practices. We have done away with that and we now have at least two partners in every practice apart from in Moscow.’

One talent to emerge is Ffion Flockhart, who was promoted to partner at 31, only six years after qualification. An insurance litigator by background, she is part of a core team that developed and manages AIG’s response and approach to a cyber event. Walker says: ‘She is very engaging, a team player and a talented individual. She is hardworking, committed, very precise and meticulous.’

Also promoted in 2012 is Sherina Petit, who qualified and practised in India, before qualifying in England and Wales in 2002. Having joined from Shearman & Sterling in 2009, she is now a key figure in developing the firm’s India practice. ‘She is a complete dynamo and spends a lot of her time in India ensuring that we are one of the firms that are front of mind for instructions in the international arena,’ Walker says. Among a plethora of impressive India cases, she acted for the energy subsidiary of a major Indian technology company in connection with a $450m ICC arbitration.

Of the 2014 partner promotion round, Matthew Waudby is helping to push forward the firm’s standing in dispute resolution. Waudby is a banking and finance disputes specialist, having spent several years working in derivatives and structured finance at Allen & Overy, before leveraging his extensive product knowledge in the contentious arena.

Simmons & Simmons

Simmons & Simmons has astutely focused on growth areas such as corporate crime, international arbitration and finance disputes. One of the younger partners to be recognised as playing a pivotal role in the development of the firm’s arbitration practice is Jayne Bentham. Promoted to partner in 2012, she has made an impression in emerging markets cases, notably in the energy and telecoms sectors, recently representing a Turkish client in a multimillion-dollar ICC arbitration over the construction of an oil pipeline.

Ian Hammond, head of Simmons’ UK disputes practice, remarks: ‘It is tough to make your mark in this market, but she has done so through a combination of expertise and excellent judgement, which has impressed everyone she has worked with. She is very capable; a high-quality operator.’

On the financial markets litigation side, the firm promoted Paul Baker to partner this year. Building on the firm’s standing in the investment funds and asset management sector, he completed a six-month secondment to an international asset management firm in 2014 as the group’s senior litigation counsel. Baker has also represented a number of asset managers and financial institutions involved in defamation actions. ‘He provides an exceptionally good combination of analytical ability and hard work, and he is very client-friendly,’ Hammond remarks.

Like Baker, Emma Sutcliffe is in the financial markets litigation group and was promoted to partner earlier this year. She has an extensive practice for investment and retail banks, and a variety of other financial institutions. Her work ranges from mis-selling claims to regulatory investigations. This includes representing an investment bank on its internal investigation and response to the FCA.

White & Case

White & Case is one of few US firms to have demonstrated a long-term commitment to dispute resolution in London, with senior figures such as John Reynolds, Jason Yardley and John Higham QC in litigation and Phillip Capper and David Goldberg in arbitration.

Of the younger partners, Charles Balmain is a genuine rising star, noted for his experience in competition damages actions. He advised a Japanese electronic products producer in a High Court damages action relating to alleged cartel activity in the cathode ray tubes and LCD panels sectors.

‘He is everything you would look for in a partner,’ comments Reynolds. ‘I knew from the moment we put him up for partnership, he would be the guy that would mature as a partner. He will go onto great things and tick all the right boxes.’

Dipen Sabharwal, who was promoted to partner in 2012, is forging an impressive standing in arbitration, particularly for India-related work, and has further experience in a variety of emerging markets. Among his more notable cases, he acted for a major real estate investor in three LCIA arbitrations against an Indian developer, relating to a large project in Mumbai. ‘He has an extraordinarily quick and analytical mind, and cuts through materials and grasps the issues very quickly,’ Capper comments.

Allen & Overy

Allen & Overy has frequently talked of upping its game in dispute resolution over the last decade and has clearly been full blooded in its commitment, building on the reputations of respected names such as Tim House and Lawson Caisley.

London litigation head Karen Seward says: ‘In 2010 we were aiming to increase litigation’s share of global revenue to 15% and now we are well on the way to 20%.’

It has several new-generation partners that are contributing to the firm’s growth. Alice Englehart has made a name for herself in international investigations, fraud and financial services regulatory cases. She acted for a FTSE 100 company on a series of global investigations connected to employee and counterparty misconduct, and possible bribery and corruption. ‘She is truly exceptional in the way she interacts with clients at all levels, including board members. She has advised many multinationals in matters of high reputational and financial risks across the globe, in both court and regulatory proceedings,’ Seward comments.

Mark Ridgway is a patent and trade secrets litigation specialist and recently advised Warner-Lambert, a Pfizer group company, on its pan-European enforcement programme connected to the drug Lyrica. Unusually, he has worked on a series of trade secrets/breach of confidence cases, including acting for a global hedge fund in a case against a rival fund founded by former employees who were alleged to have misappropriated algorithmic trading technology. ‘Life sciences and TMT clients appreciate his scientific background and deep sector knowledge. He speaks their language. He has a great track record already in IP theft/trade secrets matters; matters where immense financial interests are at stake,’ Seward says.

Jeffrey Sullivan has helped to maintain the firm’s presence in international arbitration following the high-profile departures of Stephen Jagusch and Anthony Sinclair to Quinn Emanuel in 2012. Sullivan is noted for his public international law expertise and leads the firm’s investment treaty practice. The energy and mining sectors are a forte for Sullivan. In 2015, he represented 14 investors in an Energy Charter Treaty arbitration. ‘Definitely among the best, if not the best, in investment treaty arbitrations, especially in the field of renewables. Brilliant with clients, he is capable of communicating complex legal questions to clients in a simple and commercial manner,’ Seward comments.

Mahmood Lone is another to receive market recognition. Made up to partner in 2014, he is an emerging name in regulatory investigations and banking disputes. Currently he is advising a global financial institution in Forex investigations across four continents. ‘He has outstanding legal project management skills, which are extremely important to our very advanced financial clients,’ Seward says. ‘I would trust him with complex, high-risk matters.’

Hogan Lovells

Having been closely associated with the epic BCCI dispute in the 2000s, Hogan Lovells’ contentious practice has far from tailed off. ‘In England, year-on-year, we have more reported cases to our name than any other law firm,’ comments Michael Davison, the firm’s head of litigation and arbitration.

The firm rarely hires laterally in disputes but consistently promotes from within. One standout name is Michael Roberts, who has worked on high-profile cases, including those involving the Russian oligarch Sergei Pugachev, once known as ‘Putin’s banker’.

‘He has done really well. He is very analytical, very calm and very focused on what he is doing. High-stakes litigation adds a degree of pressure and he has always taken this in his stride,’ Davison remarks.

Julianne Hughes-Jennett has impressed in the arbitration field, most notably in substantial emerging markets in regions such as CIS, Africa and Asia and has an extensive record in natural resources cases. She was primary outside counsel for a multinational energy company and defended several executives against a state government investigation and potential prosecution for complicit liability for war crimes in an African state.

‘Julianne is a tenacious arbitration lawyer who leaves no stone unturned to fight her clients’ corner,’ adds Davison. ‘She is passionate about the law – masterminding ground-breaking research into the attitudes of multinationals to foreign direct investment and the rule of law.’

Ashurst

Despite maintaining a relatively small team in London, Ashurst made up three disputes partners in London in 2015. From its latest promotion round, Tom Cummins is an emerging talent in the international arbitration arena, most notably in the energy sector, having frequently worked under Ronnie King, the firm’s head of international arbitration.

In 2014, the two successfully appeared in the Court of Appeal on behalf of Tullow Oil and its Ugandan subsidiary against Heritage Oil and Gas, which was seeking to overturn the High Court’s decision over Tullow’s indemnity claims against Heritage. Cummins is particularly recommended for his ‘tremendous drafting and advocacy skills’.

Jon Gale is another of the 2015 promotions round and is noted as a ‘formidable’ litigator with abundant big case experience, especially in multijurisdictional banking and finance cases. He is also prominent in public law and judicial review.

Clyde & Co

Clyde & Co is one of the most prolific users of the London Commercial Court, as well as the LCIA and the ICC International Court of Arbitration and the firm’s decision to form an international arbitration group separate from its sector-focused teams to target general commercial disputes has seen the firm report dramatic growth in arbitration revenues in London.

The partnership is largely populated by homegrown talent, but the standing of the dispute resolution platform has attracted a number of prominent lateral hires in recent years. International arbitration specialist Paul Dillon joined from Reed Smith earlier this year and construction professional indemnity expert Jonathan Brown arrived from DWF Fishburns in 2014.

The firm remains committed, however, to promote from within and Tom White is one standout name to have ascended to the partnership ranks this year.

A professional liability specialist by background, his practice has expanded into the broader commercial litigation sphere, including property disputes. He recently acted in a dispute connected to alleged misrepresentations in the sale of a high-value residential property in central London. The property was later reported to have been sold to Elisabeth Murdoch for over £30m, although she was not a party to the dispute. ‘He is a young guy with a lovely manner and clients really like him,’ co-chair of the international arbitration group Ben Knowles remarks.

Promoted in 2011, Mark Walsh also stands out. Walsh has a wealth of experience in the energy disputes, particularly in the offshore oil and gas and renewable areas. Described as ‘creative, on the ball, and thorough in his approach to problems,’ he joined Clyde & Co in 2008 after 11 years at the Bar and since promotion his practice has increasingly featured arbitrations under both London rules (LCIA, London Maritime Arbitrators Association) and international rules (typically ICC). Recent high-value arbitration cases have involved disputes relating to fields in South America and east Africa, as well as a number of disputes arising out of exploration activities in offshore west Africa.

Honourable mentions

Of course, leading dispute resolution talent isn’t solely housed among the largest teams in the City. Louisa Caswell at Addleshaw Goddard, a firm that punches above its weight in disputes, was made partner in 2013 and stands out for the depth of her expertise in commercial litigation, which includes acting for Leipzig water authority in a $350m credit derivatives dispute against UBS.

At Latham & Watkins, international arbitration specialist Oliver Browne became a partner in 2012 and has impressed with a series of large cases, including being part of the team that acted for Travis Coal in Travis Coal Restructured Holdings v Essar Global Fund, resulting in High Court proceedings to enforce a $213m ICC arbitration award. ‘He tore strips off the other side like a seasoned veteran and demonstrated a sense of litigation nous that left many others in his wake,’ comments one barrister involved in the case.

Hussein Haeri at Withers made partner in 2014. He has a reputation as a ‘rising star in the field of international arbitration’, particularly in investment treaty arbitration. He has appeared in several major investment treaty arbitrations such as ATA v Jordan. One prominent barrister in international arbitration at one of the leading London sets says: ‘I have little doubt that his currency will rise even further going forward and his is a name that is destined to join the pantheon of stars in the international arbitration arena.’

Other young disputes partners impressing include Richard Power at Berwin Leighton Paisner and Sophie Lamb at Debevoise & Plimpton (both were made partner in 2010); and Huw Jenkin and Jan-Jaap Baer at Travers Smith, who were promoted 2012/13.

He has a very wise head on young shoulders. He is super-energetic and is a natural client lawyer.

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