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Taylor Wessing beset by Goodwin’s City expansion as four more partners defect

Goodwin Procter has made good on its promise to build out its City technology and life sciences bench having again targeted Taylor Wessing, this time for a four-partner team.

On the back of a pacey 58% revenue growth for the 2018 financial year in London, Goodwin has hired Malcolm Bates, David Mardle, Tim Worden and Adrian Rainey to its life sciences and technology companies practices.

Mardle started at his new firm on Monday (17 June) and will be followed by Bates, Worden and Rainey after they complete their respective notice periods.

Formerly based in Cambridge, Bates was made up to partner in Taylor Wessing’s intellectual property practice in 2003 and headed up its UK life science practice. He advises on transactions including licenses, collaborations and distribution, manufacturing, outsourcing and R&D projects, as well as regulatory matters and contract and patent disputes.

Mardle became a partner in 2002 and advises on private and public financings and M&A transactions in the life sciences and technology sectors.

The hires follow that of Taylor Wessing corporate partner Andrew Davis to Goodwin’s technology and life sciences practice in January this year and are in line with the firm’s stated ambition of emulating its success in the US by focusing on the four core practice areas of real estate, private equity, life sciences and technology to grow out London.

Worden, who joined Taylor Wessing in 2006 and was made up in 2009, was previously co-head of its life sciences and healthcare practice in Cambridge.  His practice is focused on licensing and collaboration transactions, R&D and clinical trial agreements, as well as regulatory matters and IP and regulatory aspects of M&A transactions and public and private financings.

A partner since 2010, Rainey had been head of Taylor Wessing’s UK corporate technology group, representing technology companies and venture capital firms. He advises on private financings and M&A transactions across the software, internet, financial technology and digital media industries, as well as in the life sciences and medical devices industries.

The hire in April 2018 of Dechert corporate partners Graham Defries and Andrew Harrow launched Goodwin’s European life sciences practice, which quickly expanded with the hire last November of partner Sophie McGrath from Brown Rudnick.

Mitchell Bloom, chair of Goodwin’s life sciences practice, said of the latest hires: ‘Adding these premier hires aligns perfectly with our firm-wide strategy of capitalising on the impact of rapid technological change and innovation across our key client industries.’

Goodwin’s City revenue growth of 58% last year was more than three times the pace of the firm globally, hitting $66.8m, while global turnover rose 16% to $1.2bn. Profit per equity partner saw a 14% spike to $2.46m and revenue per lawyer grew 10% to $1.25m, showing the firm has performed to every metric of success both in the City and in its other offices in Boston, New York and San Francisco.

Over the last five years, Goodwin’s European offices have grown from just 20 to more than 160 lawyers, including 15 dedicated to technology and life sciences.

For more on Goodwin’s City growth, read ‘Deal View: Goodwin’s City practice goes beyond the clichés with 58% revenue growth’ (£)