The head, the tail, the whole damn thing: UK firms suffer again as Global London sharks circle

The head, the tail, the whole damn thing: UK firms suffer again as Global London sharks circle

With recent financial results displaying the added bite of US firms in the City, it appears their approach to the lateral recruitment market will continue to be just as aggressive. Paul Hastings continued to signal its M&A ambitions with the hire of Steven Bryan from Hogan Lovells, while Latham & Watkins proved again it is …

Apathy and a multimillion-pound shortfall define beleaguered KWM Europe insolvency

Apathy and a multimillion-pound shortfall define beleaguered KWM Europe insolvency

Thomas Alan finds reality setting in for creditors and former partners more than two years on ‘My immediate thought was: “Can’t we just move on?” I can’t be bothered with it,’ says one former King & Wood Mallesons (KWM) Europe and Middle East partner when asked for their thoughts on the firm’s latest administration report. …

Moment of truth: New Law champion Axiom unveils float plans but break up of its business raises doubts

Moment of truth: New Law champion Axiom unveils float plans but break up of its business raises doubts

Axiom making good on long-trailed plans to float will be a milestone for New Law. Thomas Alan assesses if the trailblazer can live up to its own rhetoric When Axiom announced in February its intentions to float, it was a seminal moment for New Law, with the pioneering flexible lawyering company established as the most …

Apollo hamstrung as Freshfields helps Berry complete eleventh-hour bid for UK plastics group

Apollo hamstrung as Freshfields helps Berry complete eleventh-hour bid for UK plastics group

Freshfields Bruckhaus Deringer successfully advised US manufacturing company Berry Global as it completed a late bid for UK-headquartered RPC Group, after private equity house Apollo Global Management cornered itself with a best and final offer. The £3.43bn Berry bid only slightly surpassed the previous £3.3bn bid from Apollo, but was approved in early March by …

The risk report – Reputations tarnished as #MeToo fallout hits the legal profession

The risk report – Reputations tarnished as #MeToo fallout hits the legal profession

Last year’s risk management and professional indemnity report with broker Marsh told a story of progress; firms felt risk culture had significantly improved in the ten years since Lehman Brothers’ collapse. However, risk remains a moving target and there is a feeling recent unpleasant episodes at a number of City law firms means much-touted improvements …

Freshfields mints eight partners in the City in renewed 22-strong global promotion round

Freshfields mints eight partners in the City in renewed 22-strong global promotion round

Freshfields Bruckhaus Deringer has promoted 22 lawyers to partner, including eight in London, amid a stronger promotion round for the Magic Circle firm. This is a significant increase on last year when the firm made up just 12 lawyers globally and a mere five in the City. It is also an increase on 2017 when …

EY makes further inroads into the legal sector after acquiring Thomson Reuters’ LPO arm

EY makes further inroads into the legal sector after acquiring Thomson Reuters’ LPO arm

Less than a year after it acquired Riverview Law, EY has maintained its acquisitive form by agreeing to buy the managed legal services business of Thomson Reuters. The acquisition of the business, named Pangea3, will see EY bolster its corporate legal department by more than 1,000 legal professionals across eight service delivery lines. Pangea3 aims …

Revolving Doors: Akin Gump does the double, Kirkland boosts funds and Sidley recruits crime veteran as US firms power lateral market

Revolving Doors: Akin Gump does the double, Kirkland boosts funds and Sidley recruits crime veteran as US firms power lateral market

Akin Gump Strauss Hauer & Feld led the way in the City lateral market last week after hiring two funds partners from O’Melveny & Myers’ City arm, while Kirkland & Ellis and Sidley Austin also made senior hires. Daniel Quinn and Aleksander Bakic start their new roles at Akin Gump today (1 April), after the …

Pinsents, Bird & Bird, BCLP and Network Rail the big winners at the 2019 Legal Business Awards

Pinsents, Bird & Bird, BCLP and Network Rail the big winners at the 2019 Legal Business Awards

Pinsent Masons, Bird & Bird, Network Rail and Bryan Cave Leighton Paisner (BCLP) were among the major winners at the 2019 Legal Business Awards in front of more than 1,000 guests last night (28 March). Hosted by comedian, writer and actress Meera Syal, the evening saw Pinsent Masons crowned Law Firm of the Year for …

No Kira in latest Fuse cohort as A&O announces new start-ups set to join incubator

No Kira in latest Fuse cohort as A&O announces new start-ups set to join incubator

Leading AI platform Kira Systems will not feature in the latest cohort of tech companies in Allen & Overy (A&O)’s  Fuse incubator, making room for more nascent start-ups to enter the Magic Circle firm’s tech space. In September of last year Kira secured $50m in private equity backing in what was a benchmark for the …